COSCO Shipping issues 100.000th electronic Bill of Lading

The milestone blockchain-based electronic bill of lading was issued to a cross-border e-commerce customer in Shenzhen by COSCO SHIPPING Lines on 24th November

On November 24, the 100,000th blockchain-based electronic bill of lading from COSCO SHIPPING was issued to a cross-border e-commerce customer in Shenzhen by COSCO SHIPPING Lines, the Group said in its news release.

Since the beginning of this year, COSCO SHIPPING has provided secure and efficient blockchain-based electronic bill of lading services to over 7,500 customers. These customers include bulk transportation and oil transportation customers with large volumes, as well as those requiring diverse transportation services, and small, medium, and micro customers from various industries.

COSCO SHIPPING connects upstream and downstream partners through the Global Shipping Business Network (GSBN) platform, establishing an efficient and trustworthy digital ecosystem. The company works closely with ecological partners, integrates industry boundaries using data, and builds a new digital trade ecology based on mutual trust, making trade easier through digital empowerment.

DT Gold Award for GSBN at 2nd Global Digital Trade Expo

Additionally, at the recently concluded 2nd Global Digital Trade Expo, GSBN won the Digital Trade Gold Award (DT Award) for its business innovation of blockchain-based electronic bill of lading.

At the 1st China International Import Expo (CIIE) in 2018, COSCO SHIPPING Lines was one of the initiators and led the establishment of GSBN, aiming to combat industry fragmentation and create value for all participants through extensive connections.

As of October 2023, nearly 30 companies, including airlines, ports, third-party issuers, finance, and insurance, have officially joined GSBN. Based on GSBN, COSCO SHIPPING has launched a blockchain-based paperless cargo release product, deployed in major domestic hub ports, and promoted to a number of overseas countries, significantly reducing import cargo release time from 1-2 days to less than 4 hours.

State-owned enterprise China COSCO SHIPPING Corporation Limited (COSCO SHIPPING Group or the Group) is headquartered in Shanghai. It is the merged entity of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping). As of Dec 31, 2022, the total fleet of COSCO SHIPPING comprises of 1394 vessels with a capacity of 113.82 million DWT, ranking No.1 in the world. Its container fleet capacity is 3.02 million TEU, ranking the third in the world. Its dry bulk fleet (437 vessels / 45.14 million DWT), tanker fleet (228 vessels / 29.18 million DWT) and general and specialized cargo fleet (175 vessels / 5.78 million DWT) are all topping the world’s list.