Pacific International Lines (PIL) has joined the non-profit organisation Digital Container Shipping Association (DCSA) to drive standardisation and digital innovation in the container shipping industry.
PIL and DCSA will collaborate on the development, alignment, and validation of digitalisation standards to increase adoption across the industry.
PIL said in a statement that DCSA standards aim to address needs such as paperless trade, cargo visibility, port call optimisation and equipment management.
It noted that having common and interoperable data standards and legislative conditions across international jurisdictions and platforms will significantly enhance delivery schedules.
They will also improve the ease of communications and transactions across regulators, banks, insurers, carriers, customers, and stakeholders involved in an international trade transaction.
PIL has been embarking on a wide range of digitalisation initiatives, including the implementation of an electronic bill of lading (eBL) to decrease delivery times, increase operational efficiency, and provide customers with a seamless experience.
An eBL makes document creation, approval, distribution and tracking easier while reducing potential fraud and eliminating the risk of paper documents being lost in transit.
"PIL has been actively undertaking digitalisation initiatives and we are pleased to join DCSA to accelerate our journey while growing the industry's digitalisation capabilities. Digitalisation not only increases efficiency and reduces costs, it also cuts down on our carbon footprint and simplifies transactions for all stakeholders," said Lars Kastrup, CEO of PIL.
He noted that, in addition to its participation in DCSA, PIL has been working to incorporate standardisation and governance into its data and processes to enhance its work and optimise efficiency.
"For digitalisation to succeed, we need to work together for industry-wide adoption. These comprehensive digital capabilities will help equip international shipping to be more sustainable and future-ready," Kastrup added.
Thomas Bagge, CEO Of DCSA, said, "We are thrilled to welcome PIL to DCSA. As we continue our collaboration with industry partners to advance the digitalisation of the container shipping industry, PIL’s participation represents another significant milestone."
"Over the past five years, DCSA and its members have created a digital foundation that allows the industry to improve the customer experience, reduce costs and help the industry shift towards a more sustainable future."
"We are looking forward to continuing our work with PIL and our other partners to help realise our vision of a fully digitised supply chain," he added.
DCSA endeavours to foster sustainability practices, promote interoperability and efficiency across the industry, enhance customer experiences, and unlock valuable insights from data.
Its goal is to achieve this by producing standards that are beneficial to all parties involved in international trade and to achieve the widest possible adoption of those standards.
PIL said in the statement that switching away from the transfer of physical paper bills of lading could save US$6.5 billion in direct costs for stakeholders, enable US$30 billion-US40 billion in annual global trade growth and ensure the long-term sustainability of international trade.
DCSA's founding members include nine of the 10 largest container shipping companies worldwide, which represent approximately 70% of global container trade.
The association was founded to accelerate digitalisation by streamlining and harmonising data standards, thereby creating an interoperable framework with reduced friction, cost and a better customer experience.