Shipping bodies partner with ICC and SWIFT to create industry standards for electronic bills of lading

Three shipping associations have teamed up with the International Chamber of Commerce (ICC) and provider of financial messaging services SWIFT on the development and adoption of relevant standards to facilitate the use of electronic bills of lading (eBL).

The Digital Container Shipping Association (DCSA), a neutral, non-profit group established to further the digitalisation of container shipping technology standards, in conjunction with its nine member carriers, today announced the establishment of the Future International Trade (FIT) Alliance with the signing of a memorandum of understanding between DCSA, BIMCO, FIATA, ICC and SWIFT in which the organisations committed to collaborating to standardise the digitalisation of international trade.

Through this initiative, the FIT Alliance said it would work together to generate awareness about the importance of common and interoperable data standards and common legislative conditions across international jurisdictions and platforms. The aim is to facilitate the acceptance and adoption of an eBL by regulators, banks and insurers and to unify communication between these organisations and customers, physical and contractual carriers, and all other stakeholders involved in an international trade transaction.

“The digitalisation of documentation for container shipments will add value for international suppliers who rely on shipping across sectors,” said David Loosley, secretary general and CEO of BIMCO. “Aligning these standards with the electronic bill of lading standard for the dry and liquid bulk sectors, which we are developing with assistance from DCSA, will help accelerate the digitalisation of trade globally.”

“Container ships carry 90% of the world’s goods. As such, an incredibly diverse set of stakeholders touches the B/L transaction—from government regulators, to insurers, to shippers from every industry. To achieve widespread use of eBL, they must all be on board with adopting digital B/L standards. The agreement between DCSA and these diverse industry associations is an exciting milestone in our journey towards standardising all container shipping documentation through our eDocumentation initiative,” added Thomas Bagge, DCSA CEO.