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HONG KONG's Orient Overseas (International) Limited (OOIL), a Cosco unit, is switching to electronic bills of lading (eBL) to enhance the efficiency of the global supply chain, reduce the carbon footprint of each shipment, and bring customers the ultimate shipping experience.
The company's eBL solution is powered by digital solutions provider IQAX Limited, and built on Global Shipping Business Network's (GSBN) blockchain platform. By leveraging this technology eBL provides a digital channel for all involved parties to access the real time status of the shipping process.
"eBL also guarantees the security, accuracy, and authenticity of data, as well as ensuring that data on the blockchain network is traceable and from a single source," the company said in a statement.
OOCL's eBL solution not only offers issuance of online Bills of Lading, but also enables different parties such as shippers, cargo owners, forwarders and banks to manage the eBL and to perform title transfers, surrenders for delivery, status updates and history reviews.
Kenny Ye, chief operating Officer of OOCL commented: "Switching to eBL not only allows us to deliver an enhanced shipping experience to our worldwide customers, but also helps OOCL and our customers achieve multiple goals in terms of reducing costs, enhancing operational efficiency, and reducing the environmental impact of our activities."
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