Shipping article(s)
Maersk's APM Terminals acquires Panama Canal Railway Company
Maersk's APM Terminals acquires Panama Canal Railway Company
ICS: Proposed US port fees on Chinese vessels to severely disrupt supply chains
PSA looks ahead to strategic developments in 2025 after record-breaking 2024
Hapag-Lloyd makes Philippine inaugural at ICTSI Manila
Yang Ming acquires three methanol dual-fuel ready vessels
Maersk shares updates on upcoming US reciprocal tariff plan
ONE highlights need for adaptability in volatile markets
WorldACD: Global air cargo rates rise as post-NY market rebounds
Chinese shipbuilder unveils LNG dual-fuel vehicle carrier
SATS partners with Guangtai to innovate ground support technology
SC Port's Inland Port Greer expands capacity by 50%
Hong Kong exporters remain positive despite growing trade tensions
Singapore opens applications for methanol bunkering licence
Tariff turmoil persists, though ocean freight rates continue to decline
UN agencies express grave concern over increased satellite interference
Baltic Hub welcomes multiple new services
Port of Savannah achieves busiest February on record
UK freight association seeks solutions to uninsured cargo
Rotterdam, Singapore boost green, digital shipping partnership
MSC announces standalone East/West network
Singapore, India ink deal to boost maritime digitalisation, decarbonisation
World Shipping Council calls on the U.S. to drop its planned port fees
Port of NY/NJ secures landmark lease extension with APM Terminals
Container rates slip amid signs of overcapacity
SC Ports expands weekly services with new ocean carrier deployments
Port of LA reports continued growth in shipments for February
Sea-Intel: Major ocean carriers profitability around US$60B in 2024
Adhira Shipping and Logistics sees continued demand for Cape Size carriers
Matadi Gateway Terminal expands hybrid equipment fleet
MPA, CMA CGM sign MoU to boost sustainable shipping, digital innovation
China, Hong Kong raise concerns over Hutchison Ports deal
Houthis ban U.S. vessels from the Red Sea; Trump vows end to the aggression
Hapag-Lloyd's port arm buys stake in terminal operator in Le Havre
MOL makes major stride in developing ammonia-powered carrier
WorldACD: Flat markets slightly above last year's levels
Frontloading continued to drive volume growth at the Port of Long Beach
Yang Ming plans regional route expansion amid evolving trade tensions
Malaysia's Sin-Kung Logistics eyes air cargo with Prima Air acqusition
Tianjin Port eyes increased container throughput to 35M TEUs by 2035
ILA-USMX officially sign six-year port contract through 2030
U.S. tariffs to accelerate relocation of factories to South, Southeast Asia
Singapore launches new standard on methanol bunkering
MOL strengthens chemical logistics business with new acquisition
MOL launches 1st onshore supply of green hydrogen produced at sea
DP World and Mawani inaugurate US$800M terminal in Jeddah
CMA CGM to invest US$1B for new Chicago air cargo hub
Trump halts Canada, Mexico tariffs again for another month
Trump unveils plans for new office of shipbuilding
CK Hutchison sells int'l ports business to BlackRock, MSC for US$22.8B
CMA CGM's first dual-fuel methanol vessel makes maiden call at Singapore
Alibaba, Maersk partner on container shipping services
MOL joins e-methane alliance e-NG Coalition
Freight pricing, contracts become more fluid
Port of New York and New Jersey records third busiest January ever
Viasea Shipping relaunches London Thamesport service
Sea-Intel notes volume shift from East to West Coast in H2 2024
Port of Savannah receives largest capacity vessel in its history
ILA ratifies new labour contract at US East, Gulf Coast ports
Sea-Intel: 2024 global schedule reliability trend continuing in 2025
Savannah tagged as fastest growing port on the U.S. East Coast
ICTSI's MCT increases renewable energy utilization
DCSA releases final versions of Booking 2.0, Bill of Lading 3.0 standards
Port Klang launches Kale's Malaysia Maritime Single Window
Port of Hamburg reports growth in container throughput, rail transport
Port of Salalah invests US$300M to meet new Gemini Cooperation needs
ONE adopts DCSA eBL standards using GSBN blockchain
Asia-Europe demand to drop once supply chains return to normal
SC Ports welcomes largest vessel to call Port of Charleston
ONE, Yusen Logistics partner on sustainable shipping solutions
Panama Canal transits start to rebound after drought year
Evergreen orders 11 mega-size containerships worth US$3.2B
PSA Ventures, NIDLP partner on port automation, sustainability
DP World Sokhna handles inaugural vehicle export
ONE names first owned and operated newbuilding container vessel
ABS chief pitches nuclear power to decarbonise shipping
Kuehne+Nagel, Acer Europe partner to decarbonise sea shipments
DP World says first phase of US$80M Sokhna Logistics Park 65% complete
DHL: Multi-shoring beyond “China Plus 1” on the rise
Regional container trade imbalances increase 33%
Yang Ming enhances JKX service with Haiphong extension
Singapore, Indonesia extends human resources development partnership
Shipping organisations increasingly concerned about seafarer safety
Ocean Alliance remains as largest shipping alliance amid recent shifts
Transits through the Panama Canal down 10%
ONE, LX Pantos announce intermodal transport joint venture
Port of New York and New Jersey records third-busiest year ever in 2024
ICTSI flagship terminal receives Philippines’ first near-zero emission RTGs
ONE raises full-year profit guidance in 2024
Gemini Cooperation launches operations
VICT in Melbourne invests in new hybrid carriers to raise capacity, reduce emissions
Port of Savannah reports 12th consecutive month of container volume growth
Global shipping schedule reliability in 2024 largely within 50%-55%
Chapman Freeborn eyes further growth in China air cargo charters
CMA CGM, Maersk to keep Cape of Good Hope sailings despite Red Sea tensions easing
Blank sailings, Trump tariffs may buffer spot rates from hard landing
DP World, NSW Ports invest A$400M to expand rail capacity at Port Botany
Red Sea crisis “not the sole reason” for higher ship operating costs
HMM signs MoU to develop India's Vadhvan port
Trump delays tariffs on Inauguration Day but issues new threats to China, the EU
PSA unboXed rebranded as PSA Ventures
No immediate large scale return to the Red Sea despite Israel-Hamas ceasefire
China's New International Land-Sea Trade Corridor connects 555 ports
Port of Long Beach reports record 2024 cargo volume
China's Ningbo-Zhoushan Port maintains title as top port for cargo volume
U.S. proposes new rules for the entry of low-value shipments
Port of Savannah reduces transit time for Indian cargo
PSA hits 100 million TEUs milestone for the first time
Singapore reports record growth in container throughput, gross tonnage for 2024
deugro transports equipment for Europe’s most sustainable ethane cracker
Rebuilding efforts from devastating L.A. fires could impact container volumes
Seafrigo opens in Vietnam
OOCL to launch another 6,828 TEU ship on the Transpacific trade
Air cargo industry records 14th months of growth, but 2025 outlook cautiously optimistic as risks remain
Maersk halts port surcharges as strike threats end
Air Canada Cargo expands capacity in key Asian markets
Mukran Port starts the year 2025 with new management
US ports strike averted as dockworkers agree on tentative deal
BIMCO: Containership order book hits new record high of 8.3M TEU
deugro ramps up Middle East expansion with new appointments
DP World hits 100M TEU capacity across its network
Rating
PIL AND IBM TO TRIAL ELECTRONIC BILL OF LADING
October 4, 2018

Pacific International Lines (Pte) Ltd and IBM Singapore are to collaborate in a blockchain trial to design and create an electronic bill of lading which will enhance the shipping documentation process.

 

According to PIL, the collaboration was supported by the Maritime and Port Authority of Singapore, the Singapore Shipping Association, Infocomm Media Development Authority, Singapore Customs and the Singapore branch of the Bank of China.

 

Self Photos / Files - PIL+IBM

 

“This is a big step forward for PIL,” said Lisa Teo, executive director of PIL. “As an international shipping company, we believe we have a role to play in enhancing efficiencies within the intermodal transport logistics ecosystem. Working with a complex logistic network comprising ports and terminals, agencies, government entities, banks and shippers, systematic supply chain management is increasingly important to lower costs through the chain by cutting unnecessary expense, movements and handling.”

 

The bill of lading contains crucial legal and commercial information such as evidence of contract of carriage, receipt of goods and title of the goods. It is a physical document which banks rely on to provide trade financing and is usually mailed to the relevant parties, leaving it open to potential fraud or loss, handling costs and inefficiency.

 

To improve the process, PIL and IBM have proposed using an electronic bill of lading to streamline and replicate the paper trail online using a secure blockchain ledger created by IBM, doing away with hard copies and unnecessary handling costs.

 

The team plans to extend the electronic bill of lading to shadow an end-to-end shipment in real time.

 

“Traditionally, information flow is predominantly handled via manual processes and the supply chain is slowed down when there are many points of communication within its framework,” said Teo. “The use of blockchain technology to allow for the direct exchange of documents and information via the decentralized network to boost transparency, eliminate disputed forgeries and unnecessary risks will be key for this industry to progress.”

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