The Digital Transition to Electronic Bills of Lading (TEST)

Adopting electronic bills of lading (eBLs) can transform trade by streamlining processes, improving security, reducing environmental impact and promoting sustainable trade practices. Estimates show that replacing all paper-based bills of lading would save an estimated $6.5 billion in direct transaction costs with the capacity to facilitate up to $40 billion in global trade.
The container industry currently operates at 5 percent eBLs and has committed to operating at 100 percent by 2030. This will be a massive transformation in just a 5-year period. This transformation will also require standardization of maritime terms, and IMO initiative, to create a common global maritime language.
This panel discusses how businesses and ports can best prepare for the digital transition from paper-based to eBLs.