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Paperless Trade Insights Q2 2022

Paperless Trade
Digital Trade
trade finance
electronic bill of lading
electronic Certificate of Origin
Digital Standards
ExxonMobil Chemical
  Paperless Insights Q2 2022 HEADER

In our latest quarterly issue: UK to enact law legally recognizing eBLs and other negotiable instruments, digital trade standards & interoperability continue to shape the TradeTech agenda, blockchain trade & trade finance platforms shutter operations + much more. + SUBSCRIBE

Industry News & Views

KENNEDYS THUMBA small step to a big change – electronic bills of lading in the UK: Outlining the significance of the UK’s Electronic Trade Documents Bill, giving legal recognition to eBLs & other trade docs and expected to come into force by end 2022 (source: Kennedys). + READ MORE

C4DTI LAUNCH THUMBTrade digitalisation gets boost in UK with launch of dedicated centre: The Centre for Digital Trade and Innovation (C4DTI) brings together experts from industry and government to accelerate digital trade standards, interoperability and legal reform (source: GTR). + READ MORE

SGTRADEX_THUMBSingapore officially launches digital platform to ease supply chain data flow: Singapore announces the launch of SGTraDex, a public-private initiative described as a ‘centralized platform that streamlines data flows across fragmented supply chains’ (source: ZDNet). + READ MORE

cb paperless toolkitCross-border Paperless Trade Toolkit Launched: Expanding on its Standards Toolkit from Q1 2022, the WTO released a comprehensive Paperless Trade Toolkit, building on legal & technical checklists developed by an intergovernmental group of 30 countries (source: WTO). + READ MORE

imo thumbIMO makes Single Windows for ship data exchange mandatory: IMO’s Facilitation Committee has adopted amendments to the Facilitation (FAL) Convention making a ‘Single Window’ for ship data exchange mandatory in ports around the world (source: SMN). + READ MORE

africa etrade thumbAfrica e-trade platform to connect 22 countries: Kenya Trade Network Agency (KenTrade) has launched the Africa e-trade platform, to handle the exchange of docs such as Certificates of Origin and Phyto Certificates between 2022 African countries (source: ZAWYA). + READ MORE

ephyto thumb 2milTwo Million ePhytos Exchanged as Demand Soars: IPPC recently announced that its ePhyto platform has exchanged over 2M ePhyto Certificates since its inception up until March 2022, averaging 100k certificates exchanged per month (source: IPPC). + READ MORE

promise tradetechThe promise of TradeTech – Policy approaches to harness trade digitalization: Analyzing the building blocks for TradeTech policy adoption, including data transmission & liability frameworks, eDocs legal recognition, interoperability + more (source: WEF). + READ MORE

APIvsEDI THUMBVideo – API vs EDI: DCSA video explores the difference between API and EDI as methods of data exchange, and presents three great reasons for the industry to make the switch to API-based communications (source: DSCA via Vimeo). + READ MORE

2 origin services icc thumbTwo new digital trade services launched in the origin area: ICC expands and modernizes its digital trade services in the origin space with a new online certifying tool and a revamped Certificate of Origin (CO) verification website (source: ICC)+ READ MORE

etrade readiness thumbFast-tracking implementation of eTrade Readiness Assessments – 2nd edition: UNCTAD releases its latest eTrade Readiness Guide, documenting best practices, policy impacts and lessons learned to pave the way for further digital trade development (source: UNCTAD). + READ MORE

STANCHART DATA STANDARDS AND ESG THUMBData standards – A key to a truly sustainable trade: Insights from Standard Chartered, on how an industry-wide model for ESG data will unlock the true power of trade as a force for good – as long as everyone adopts it (source: Standard Chartered). + READ MORE

state of digital standards thumbState of Digital Standards in Trade: Hannah Nguyen from the ICC Digital Standards Initiative (DSI) shares insights into the current state of digital trade standards, plus challenges & opportunities that lie ahead (source: Shipping and Freight Resource). + READ MORE

sc disruptions ldc thumbWhat supply chain disruptions mean for developing countries: UNCTAD’s Jan Hoffmann shares his views on the impact of supply chain disruptions to developing nations, particularly with regard to energy dependency and food security (source: IPS Journal). + READ MORE

WETRADE SHUTDOWN THUMBBank-backed blockchain consortium files for insolvency: – one of the earliest blockchain trade finance consortia/platforms – is entering insolvency, after it failed to raise additional capital from its shareholders to continue operations (source: Finextra). + READ MORE

wetrade kudos thumbKudos to the team what we can learn: An excellent ‘post-mortem’ analysis of the recent implosion of, including key lessons to be learned when embarking on ambitious digital trade finance initiatives (source: Enno-Burghard Weitzel via Linkedin)+ READ MORE

SERAI SHUTDOWNHSBC shutters Hong Kong-based trade start-up Serai: Serai, HSBC’s wholly-owned B2B platform for SME trade based out of Hong Kong, is shutting down due to what it cites as ‘difficulties in building a commercially viable business’ (source: CNBC). + READ MORE

MONETAGO THUMBMonetaGo ditches blockchain amid scalability concerns: MonetaGo, a trade finance deduplication & fraud prevention solution, announced it will switch from blockchain to cloud, citing that cloud provides more scalability as volumes ramp up (source: MonetaGo). + READ MORE

unctad war impact thumbMaritime Trade Disrupted – The war in Ukraine: A recent UNCTAD report on the war’s impact on maritime trade & logistics, including key facts and figures on how the conflict has impacted freight rates, global grain supply and more (source: UNCTAD). + READ MORE

ESCAP ICC ADB WEBINAR THUMB NEWSLETTERHighlights from UNESCAP-WCO-ICC-ADB Webinar ‘Digitalizing Certificates of Origin – Trends & challenges for Advancing Paperless Trade’: Featuring updates on electronic certificate of origin (eCO) adoption, key initiatives, case studies and more (source: essCert). + READ MORE

essDOCS News

XOM CEAT THUMBExxonMobil Chemical Asia Pacific & CEAT Tyres complete first ever eDocs transaction for chemicals import into India: Involving ICICI Bank as the banker to CEAT Tyres and ONE as the carrier for cargo shipped ex-Singapore. + READ MORE

essdocs part of ice thumbessDOCS is now part of ICE: As part of ICE (NYSE: ICE), we will be able to accelerate our development plans for essDOCS to realize our goal of paperless global trade management. + READ MORE

essDOCS in Numbers

Paperless Insights Q2 2022 Metrics


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