BIMCO sets sights on a global electronic bill of lading standard

BIMCO is to develop an electronic bill of lading standard for the dry and liquid bulk sectors as a key component of a global initiative to accelerate trade digitalisation, according to BIMCO's release.

As part of a major initiative to accelerate digitalisation in the shipping industry, BIMCO has teamed up with the International Chamber of Commerce (ICC) and other key stakeholders to help identify and overcome obstacles preventing a more widescale adoption of electronic bills of lading.

BIMCO is to play a key role in this process by developing a global electronic bill of lading (eBL) standard for the dry and liquid bulk sectors and encouraging its acceptance and adoption by regulators, banks, carriers and insurers.

BIMCO’s electronic bill of lading standard will be fully aligned with the UN/CEFACT MultiModal Reference Data Model to ensure seamless and transparent eBL transactions across international borders. The organisation plans to develop its eBL standard with the assistance of, among others, the Digital Container Shipping Association (DCSA) who published their own standards for the liner industry in December 2020.