Bills of Lading Going Digital

The shipping industry is huffing and puffing its way into the 21st Century – and while shipboard communications are still a bone of contention, at least the cargoes are getting better connected.

The use of electronic bills of lading is coming to the fore, and essDOCS has successfully completed the first operational use of essDOCS electronic bill of lading solution covering a container movement. The negotiable electronic ocean or master bill of lading was issued by NYK Line to a global essDOCS customer, for a shipment from Singapore to China on the M/V Vancouver Bridge.

The NYK Line eB/L was issued to Elite International Logistics Singapore (the forwarder working on behalf of the customer) on February 7th, who in turn added the necessary supporting eDocs and presented the set of electronic documents (eSet) to the American trade finance bank. After completing its review of the eSet, the American bank presented the eSet to the issuing bank, China CITIC Bank. Following that transaction, China CITIC Bank accepted the eSet under the terms of the eUCP letter of credit and in turn sent the original eDocs to Wuhan XinLianChuang Plastics. Wuhan XinLianChuang then surrendered the eB/L to NYK and received their cargo at Shanghai port.

This shipment marked many firsts for essDOCS:

First operational use of essDOCS eB/L solution in the liner segment
First use of eUCP involving a liner eB/L
First containerised chemical shipment using eB/Ls
First operational use by NYK Lines of essDOCS solution
First operational use by Elite International Logistics
First operational use by leading American trade finance bank (essDOCS’ first American Bank to adopt ePresentation solution)
First operational use by China CITIC Bank (essDOCS’s first Chinese Bank to adopt its ePresentation solution)
First operational use by Wuhan XinLianChuang

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