The appointment of BIMCO builds on a longstanding collaboration between the two organisations to support the adoption of electronic Bills of Lading (eBLs), advance industry standards and accelerate paperless trade across global trade.
Every year, over 45 million paper Bills of Lading are physically exchanged around the world to facilitate global trade. As industry momentum behind eBL adoption continues to grow, common standards and interoperability are becoming increasingly important to support adoption across the wider maritime ecosystem.
The introduction of ISO 5909 marked an important step forward for the industry by establishing a common framework for electronic Bills of Lading. GSBN has worked closely with organisations including BIMCO and other bodies, to support the development and adoption of standards that enable eBLs to be adopted consistently across different shipping segments, including container, bulk and specialised cargo.
This is particularly important for bulk and commodity trade, where transactions are often supported by trade finance. Enabling eBLs to be presented electronically to banks, together with supporting trade documents, can help connect shipping and financial workflows, reduce reliance on the physical exchange of original documents and support faster, safer, and more efficient processing of letters of credit and documentary collections.
"The transition to paperless trade depends on trusted collaboration, common standards and broad industry participation. The introduction of ISO 5909 represents an important milestone in helping drive greater interoperability and confidence in electronic trade documentation. BIMCO has been an important partner in this journey, and we are delighted to deepen our collaboration as we work together to accelerate eBL adoption across the maritime industry."
Bertrand Chen, CEO at GSBN
“As electronic documentation continues to accelerate, industry alignment around standards and interoperability will become increasingly important. We look forward to strengthening our collaboration with GSBN and its ecosystem partners to support practical, standards-based digitalisation across global shipping."
Grant Hunter, Chief Digital Officer at BIMCO
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