Describing bills of lading as an “anachronism” a top Scandinavian shipping line and a Belgian shipper have joined the blockchain push to retire the ancient paper process. G2 Ocean, the breakbulk joint venture between Gearbulk and Grieg Star, has just concluded a successful test with Dutch client Manuchar, using CargoX’s Smart B/LTM solution on five shipments from China to Peru.
“Paper Bills of Lading are already considered a historic artefact. The Smart B/LTM solution gives both us and our clients the power of a modern, reliable, and efficient tool. It will bring cost optimisation and improved data security into their processes. The document transaction reliability in this system is undisputable,” said Rune Birkeland, CEO at G2 Ocean.
Many other shipping lines have been trialling blockchain-based Bills of Lading in recent months.