The Global Shipping Business Network (GSBN) has appointed BIMCO to its board as the organisations continue to work on electronic Bills of Lading (eBLs), industry standards and paperless trade.
GSBN has worked with BIMCO and other industry organisations on the development and adoption of standards for eBLs, including ISO 5909, which provides a common framework for electronic Bills of Lading.
The organisations say standardisation is particularly relevant to bulk and commodity shipping, where trade finance is commonly used. Electronic presentation of Bills of Lading and supporting trade documents to banks can reduce the need to exchange original paper documents and support the processing of letters of credit and documentary collections.
“The transition to paperless trade depends on trusted collaboration, common standards and broad industry participation,” said Bertrand Chen, CEO at GSBN.
“The introduction of ISO 5909 represents an important milestone in helping drive greater interoperability and confidence in electronic trade documentation.”
BIMCO represents companies across bulk, tanker, container and specialised shipping, while GSBN’s platform is used to support digital trade documentation across the wider shipping and trade ecosystem.
“As electronic documentation continues to accelerate, industry alignment around standards and interoperability will become increasingly important,” said Grant Hunter, Chief Digital Officer at BIMCO.
“We look forward to strengthening our collaboration with GSBN and its ecosystem partners to support practical, standards-based digitalisation across global shipping.”
