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Paperless Trade Insights Q1 2023

Paperless Trade
Digital Trade
trade finance
FIT Alliance
electronic bill of lading
Tata Steel
25 by 25 Pledge
Nickel fraud
Metals & Minerals
electronic Trade Documents Bill
Huy Anh Rubber
  Paperless Insights Q1 2023 HEADER

In our latest quarterly issue: bulk and container shipping stakeholders pledge widespread adoption of eB/Ls, cross-platform interoperability continues to feature prominently on the digital trade agenda, key paperless milestones & developments across the globe + much more. + SUBSCRIBE

Industry News & Views

FIT Alliance SurveySurvey: FIT Alliance reveals strong interest in eBL, pinpoints obstacles to address: Key findings from the Future International Trade (FIT) Alliance eB/L survey, including views on necessary areas of collaboration to move the industry to 100% paperless (source: DCSA). + READ MORE

BIMCO Webinar Shipper's perspectiveVideo: Electronic Bills of Lading – the shipper's perspective: Vale's Erick Tavares discusses the Company’s impressive eB/L journey in a BIMCO webinar, featuring insights on adopting eDocs and boosting digital trade uptake from a shipper’s perspective (source: BIMCO). + READ MORE

BIMCO 25by25 pledgeBIMCO launches campaign to accelerate uptake of eB/Ls: The BIMCO-led "25 by 25 pledge" is a commitment by some of the world’s biggest bulk shippers to move 25% of their annual seaborne trade volume for at least one commodity using eB/Ls by 2025 (source: BIMCO). + READ MORE

eBL InteroperabilityeBL interoperability: Help or hindrance for global adoption?: Industry experts from DCSA, BIMCO, essDOCS and others share views on the feasibility of interoperability and whether efforts dedicated to achieving it may be slowing down eB/L uptake (source: GTR). + READ MORE

Trafigura's Nickel FraudAn analysis on Trafigura’s “systemic” nickel fraud: A deep dive into a recent high profile nickel fraud case, in which Trafigura alleged it was exposed to "systemic" fraud to the value of $577 million (source: TFG). + READ MORE

Free Trade Agreements USDAFree Trade Agreements Mean Export Growth for Some Countries, Reallocation of Trade for Others: An examination of the US’ free trade agreement portfolio and its effect on US trading partners in agricultural commodities (source: USDA Economic Research Service). + READ MORE

dcsa eBL commitmentDCSA’s member carriers commit to fully standardised, electronic bill of lading by 2030: DCSA announces that its nine ocean carrier members have committed to 100% adoption of DCSA standards-based eB/Ls by 2030, and 50% adoption within five years (source: DCSA). + READ MORE

AFCFTA rules of originQuick Guide on AfCFTA Rules of Origin: WCO, with the support of the EU, releases a Quick Guide for the private sector to assist with the practical implementation of the African Continental Free Trade Area (AfCFTA) Annex 2 on Rules of Origin (source: WCO)+ READ MORE

India eBDNIndia requires bunker suppliers to submit eBDN: Directorate of General Shipping issues a circular covering several new sustainability requirements, incl. a requirement for bunker suppliers to digitally generate & issue eBunker Delivery Notes (eBDN) (source: SAFETY4SEA). + READ MORE

CNA New trade guidelinesVideo: New guidelines to standardise, digitalise common contracts for global transactions: Coverage of the inaugural ICC Future Trade Forum in Singapore, where participants discussed digital trade uptake and standards adoption (source: CNA via YouTube). + READ MORE

Marco Polo InsolvencyMarco Polo brings in liquidators as funds run dry: After failing to obtain a last-minute cash injection, trade finance blockchain consortium Marco Polo Network recently filed for insolvency, becoming the latest blockchain project of its kind to run out of cash (source: GTR). + READ MORE

McKinsey Metals & Mining technologyMetals & mining: Unleashing the power of tech in commodities trading: Making the case for metals traders to embrace digital tools that enhance competitiveness and streamline operations, identifying key areas for standardization & automation (source: McKinsey). + READ MORE

ICC DSI 7 trade documentsICC DSI: 7 key trade documents for digitisation: Takeaways from an ICC Digital Standards Initiative report identifying & defining the data elements in 7 key trade docs (e.g. B/L, CO + more), plus guidance on using standards to facilitate seamless data sharing (source: TFG). + READ MORE

Forbes Trade Finance DigitizationThe Real Tipping Point In The Digitalization Of Trade Finance: Contour CEO, Carl Wegner, outlines recent digital trade finance developments and shares views on why trade participants must move away from a wait-and-see approach or risk staying behind (source: Forbes). + READ MORE

UK Parliament ETD TrackerParliamentary timeline of UK's Electronic Trade Documents (ETD) Bill: Tracking the status of the ETD Bill, which, following its 3rd reading at the House of Lords, has since been presented to the House of Commons for its 1st reading there (source: UK Parliament). + READ MORE

essDOCS News

first eBL Turkey ImportsTata Steel completes first-ever CargoDocs eB/L transaction for imports into Turkey: Leading steelmaker completes milestone transaction for imports into Turkey, where the original eB/L was transferred through the entire chain in under 48 hrs. + READ MORE

first eBL VietnamFirst use of CargoDocs electronic Bills of Lading for exports out of Vietnam: Milestone transaction covered the sale of natural rubber in containers by Huy Anh Rubber Co Ltd in Vietnam, to CEAT Limited in India, supported by ICICI Bank. + READ MORE

essDOCS in Numbers

Paperless Insights Q1 2023 Metrics


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