Hapag-Lloyd chooses eBL partner

As part of its strategy to move to 100% electronic Bills of Lading (eBL) by 2030, Hapag-Lloyd has announced plans to adopt an eBL system from technology company IQAX utilising the trade documentation blockchain system operated by the Global Shipping Business Network (GSBN).

IQAX is a subsidiary of Orient Overseas International, which also owns shipping line OOCL, a founding member of GSBN.

GSBN says that it has collaborated with Hapag-Lloyd and the Digital Container Shipping Association (DCSA) to ensure that eBL data is shared on its network using APIs compliant with the latest version of DCSA eBL API (version 3.0).

“In a world where global supply chains are increasing in complexity and volatility, there is a greater need for robust digital solutions to address these challenges,” said Nilesh Popat, Director, Service Delivery at Hapag-Lloyd.

“The IQAX eBL over GSBN’s blockchain network offers our customers greater choice, visibility, and control. This enables our target of achieving 100% electronic bill of lading by 2030, which is a critical milestone for us.”

Nine Chinese banks have already on-boarded on IQAX eBL to support wider access to trade finance for users of the digital documents, including Bank of China, Bank of China (Hong Kong), Export-Import Bank of China, Shanghai Rural Commercial Bank, Bank of Ningbo, Bank of Communications, China Merchants Bank, Shanghai Pudong Development Bank and CITIC Bank.

“(The IQAX eBL) is trusted by more than 12,000 customers, with over 180,000 carriers’ original eBLs issued since 2023 and the documentation for an estimated US$29 billion worth of goods has been digitised,” said Lionel Louie, IQAX Chief Commercial Officer.

“Our solution gives Hapag-Lloyd’s customers full control of the eBL together with complete visibility of the shipment and document milestones.”

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Rob O'Dwyer

Rob is Chief Network Officer and one of the founders of Smart Maritime Network. He also serves as Chairman of the Smart Maritime Council. Rob has worked in the maritime technology sector since 2005, managing editorial for a range of leading publications in the transport and logistics sector. Get in touch by email by clicking here, or on LinkedIn by clicking here.

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