Following its June launch, the Digital Container Shipping Association (DCSA) published the first standards for the digital bill of lading. The association includes major global carriers such as MSC, Maersk, CMA CGM, Hapag-Lloyd, ONE, Evergreen, Yang Ming, HMM, and ZIM. This new initiative focuses heavily on the complete dematerialization of the bill of lading.
DCSA specified that these new standards align perfectly with the model developed by the United Nations for global trade facilitation. This initial publication contains the essential elements to digitize end-to-end container shipping documentation. The initiative aims to accelerate the adoption and acceptance of the electronic bill of lading (eBL) among authorities, credit institutions, and insurance companies. Furthermore, it standardizes communication codes between carriers and all parties involved in a commercial transaction.
The first four standards are now available on the official DCSA website. Meanwhile, the operational interface will launch next January.
“The digitization of documentation, starting from the bill of lading, is fundamental for the simplification of global trade,” observes Thomas Bagge, CEO of DCSA. “The agreement reached between the carriers is a milestone on this path. The dematerialization of documents will represent a massive advantage for all parties involved. It will reduce costs, improve customer satisfaction, and drive growth, innovation, and sustainability. We invite all interested parties to collaborate with us to optimize these standards.”
“The pandemic has made digitization very urgent,” continues Oswald Kuyler, director of the Digital Standards Initiative at the International Chamber of Commerce. “The standardized eBL is the cornerstone of this transformation, and global carriers have accepted this challenge.”
According to DCSA research, processing a paper document costs almost three times more than the dematerialized version. The OECD estimates a global economic growth rate of 2.4% through 2030. Based on these projections, the shipping industry could save up to $4 billion a year if companies adopt the digital policy in just 50% of cases. For comparison, the aviation sector introduced its own eBL in 2010. After ten years, its adoption rate successfully exceeded 68% of all shipments.
