PR89175

GENEVA, April 28, 2021 /PRNewswire=KYODO JBN/ --

- MSC customers will be able to receive the bill of lading electronically,

without any change or disruption to their day-to-day business operations.

- Eliminating paper from the shipping transaction will make every aspect of

commercial container shipping easier, faster, more effective and more secure.

- The shipping industry can save almost USD 4 billion by transitioning to an

eBL.

- Electronic bills of lading (eBL) help mitigate the impact of trade

disruptions on cargo flows during COVID-19.

MSC Mediterranean Shipping Company, a global leader in container shipping and

logistics, is officially introducing the electronic bill of lading (eBL) for

its customers around the world, following a successful pilot phase, using a

solution on an independent blockchain platform WAVE BL. The eBL enables

shippers and other key supply chain stakeholders to receive and transmit the

bill of lading document electronically, without any change or disruption to

day-to-day business operations.

WAVE BL is a blockchain-based system that uses distributed ledger technology to

ensure that all parties involved in a cargo shipment booking can issue,

transfer, endorse and manage documents through a secure, decentralised network.

Users can issue all originals, negotiable or non-negotiable, and exchange them

via a direct, encrypted, peer-to-peer transmission. It's also possible for

users to amend documents. WAVE BL's communication protocol is approved by the

International Group of Protection & Indemnity Clubs, and meets the highest

industry standards for security and privacy.  

"MSC has chosen WAVE BL because it is the only solution that mirrors the

traditional paper-based process that the shipping and cargo transportation

industry is used to," says Andre Simha, Global Chief Digital & Information

Officer at MSC. "It provides a digital alternative to all the possibilities

available with traditional print documents, just much faster and more secure."

The WAVE BL platform can be used free of charge throughout 2021 for exporters,

importers and traders. Users only pay for issuing the original documents, and

they do not need to invest in any IT infrastructure or make operational changes

in order to use the service. They can simply sign up via MSC's website:

www.msc.com/eBL.

Longstanding advocacy for digitalisation in shipping

MSC has long recognised the importance of digitalisation across the shipping

industry and has been one of the pioneers behind the industry's digital

transformation. As a founding member of the Digital Container Shipping

Association (DCSA), MSC has participated in a number of initiatives focused on

driving standardisation, digitalisation and interoperability in container

shipping. Andre Simha is also the Chairman of DCSA.

Introducing an eBL solution is a critical step in the overall digitalisation of

the industry. "Traditionally, the shipping industry has relied quite heavily on

physical paper documents. And among these, the BL is the most important

transport document in international trade," states Andre Simha. "While there

have been attempts to create an eBL solution in the past, we are now in a

position to introduce a solution that can pave the way to mass eBL adoption,

which will mean significant savings for the shipping industry."

Saving the shipping industry billions

DCSA research indicates that by achieving just 50% eBL adoption by 2030, the

industry could potentially save more than USD 4 billion per year. In addition

to the significant cost savings, the eBL offers a wide range of benefits to

shippers, including eliminating the 'Document transportation' factor from the

supply chain. Shippers can instantly transfer original and negotiable

electronic documents across borders. The solution enables faster document

transfers, which in turn, leads to a shorter payment cycle. And electronic

processes are far less susceptible to forgery, fraud, loss or human error.

As Andre Simha comments, "Eliminating paper from the shipping transaction will

make every aspect of commercial container shipping better, faster, more

effective, more secure and environmentally-friendly."

Gadi Rushin, WAVE BL's CEO and Co-founder, "Our goal from the very start has

been to change the way the world trades by digitising document workflows while

ensuring the highest legal, security and privacy standards. MSC is helping to

create a new trade norm that will ultimately affect the rest of the market and

save the trade industry billions of dollars."  

Helping countries severely impacted by COVID-19

While MSC has worked with WAVE BL on piloting its eBL solution since 2019,

COVID-19 has created an even greater drive towards digitising the BL. "The

global pandemic has restricted human and transport mobility in many places,"

Andre Simha explains. "Countless containers have been stuck at various ports,

terminals, depots and warehouses around the world because the receiver doesn't

have the original paper BL required to release these goods at their

destination."

Here the eBL addresses a very current need, enabling stakeholders to overcome

border restrictions, interruptions in postal services and other

pandemic-related disruptions. Shippers can also allow employees to work

remotely by dematerialising the BL and other shipping documents.

Worldwide implementation

After running successful pilot projects in select countries since 2019, MSC is

now introducing its digital solutions to all customers worldwide, paving the

way for widespread eBL adoption. MSC is also exploring other eBL platforms to

adapt to market demands.

"Now we're introducing our eBL solution to our broad customer base to ensure

that even more of our customers are able to benefit from the advantages of a

digital BL solution. In a matter of a few years, we expect the eBL to become

the new norm." Andre Simha states.

For more information on MSC's eBL: www.msc.com/eBL

For more information on WAVE BL: www.wavebl.com

About MSC: MSC Mediterranean Shipping Company, headquartered in Geneva,

Switzerland, is a global leader in transportation and logistics, privately

owned and founded in 1970 by Gianluigi Aponte. As one of the world's leading

container shipping lines, MSC has 524 offices across 155 countries worldwide

with over 100,000 employees. With access to an integrated network of road, rail

and sea transport resources which stretches across the globe, the company

prides itself on delivering global service with local knowledge. MSC's shipping

line sails on more than 215 trade routes, calling at over 500 ports.

For more information visit www.msc.com

About WAVE BL: WAVE BL is a blockchain-based digital courier platform that

mirrors the traditional process for transferring original paper documents --

electronically. Our solution enables instant, encrypted and authenticated

transfer of Bills of Lading and other unique digital documents. WAVE BL's

platform is designed to meet the needs of every member along the supply chain,

from the smallest importer to the largest shipping carriers and banks.

For more information visit www.wavebl.com

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Source: MSC Mediterranean Shipping Company