Pacific International Lines looks to Bolero for Container Shipment eBLs

Latest container shipment shows electronic bills of lading (eBLs) becoming more prevalent in world trade, with many carriers moving from early trials to full adoption

London, 02 July 2014

Bolero has confirmed that a full ePresentation involving a container electronic bill of lading (eBL) has been undertaken over its cloud-based platform, reflecting the growing demand for container eBLs among carriers and shippers. BHP Billiton sent a shipment from Australia to China, via the carrier company Pacific International Lines.

“Having worked in container carrier operations teams for many years, it’s incredibly pleasing to see the use of eBLs becoming more and more prevalent in container shipments,” said Bolero Carrier Product Manager, Aline Bezerra.

“Bolero has listened closely to the container industry and their feedback on transactions carried out in 2012 and 2013. This feedback was incorporated into the Bolero solution. Since then adoption has risen significantly, with multiple carriers now using container eBLs smoothly and with full confidence.”

Global seaborne container trade is believed to account for approximately 60 percent of all world seaborne trade, and was valued at around 5.6 trillion U.S. dollars in 2010. The quantity of goods carried by containers has risen from around 100 million metric tons in 1980 to about 1.5 billion metric tons in 2012. In 2012, the global cellular container ship fleet had the capacity to carry some 15.4 million standard containers.

In May, the shipping association BIMCO recognised the rising use of eBLs by adopting a new clause that effectively gives eBLs the same status as paper bills of lading under the terms of charter party agreements. Normal insurance liabilities are covered by the P&I clubs to the same extent when using eBLs as their paper equivalent.

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About Bolero

Bolero is a cloud-based platform which provides a different way to implement multi-party trade documentation solutions.

Unlike traditional point to point approaches which are costly, complex and uncertain, Bolero’s cloud architecture ensures fast deployment, ease of use and global access together with no infrastructure costs. Users benefit from accelerated time to cash, reduced costs, greater control and visibility and operational efficiencies.

Because trade finance involves collaboration between multiple parties, all Bolero Applications are built on the Bolero Exchange, a collaborative platform which supports all trade flows between all parties and across all locations. Each Bolero member only needs to connect once and then has common access to all other community members whilst remaining completely insulated from a trade partner’s specific technology and business process.

Bolero is more than a technology solution – it is a community of corporates, banks, insurers and logistics service providers operating in more than 46 countries and managing more than 550,000 trade transactions per month.

 

For more information, please contact:

Simon Moss

The Whiteoaks Consultancy

Tel: + 44 (0) 1252 727313

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