The Maritime and Port Authority of Singapore (MPA) is supporting BIMCO’s 25 by 25 Campaign to accelerate the adoption of electronic bills of lading (eBLs) in the bulk sector, according to International shipping association BIMCO on Wednesday (5 April).
At the forefront of maritime digitalisation, Singapore was one of the first few nations to adopt the UNCITRAL Model Law on Electronic Transferable Records (MLETR) and MPA has shown strong leadership in driving forward digitalisation in the maritime industry with numerous initiatives.
Grant Hunter, Director of Standards, Innovation and Research at BIMCO, said: “We are delighted to have MPA’s support for our Campaign. As we await more jurisdictions to follow Singapore’s lead and enact MLETR, the message is that the industry can benefit from adopting eBLs using available technologies and frameworks. Acting now will show legislators that the industry is committed to digitalising these important trade documents ahead of legal reform.”
Thomas Ting, Chief Technology Officer at MPA, said, “We are pleased to support the Campaign towards wider adoption of eBLs to strengthen global supply chain efficiency and resilience. Digitalising this important international trade document will help accelerate digital transformation through the entire supply value chain. MPA will continue to work with industry partners to encourage interoperability and growth of digital trade services.”
Increased adoption of electronic bills of lading will drive efficiency and reduce unnecessary risks in the industry. MPA joins mining giants Vale, BHP, Rio Tinto, and Anglo American in their support for the initiative.
“The adoption of electronic bills of lading is a crucial step in modernising and streamlining the shipping industry. BIMCO welcomes the support of all stakeholders in this effort,” BIMCO added.
Related: Singapore completes world’s first live paperless cross-border trade
Photo credit: Justin Lim on Unsplash
Published: 6 April, 2023
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