COSCO SHIPPING issues 100,000th electronic Bill of Lading

COSCO SHIPPING issues 100,000th electronic Bill of Lading

COSCO SHIPPING has issued the 100,000th blockchain-based electronic bill of lading to a cross-border e-commerce customer in Shenzhen by COSCO SHIPPING Lines.

Since the beginning of this year, COSCO SHIPPING has reportedly provided blockchain-based electronic bill of lading services to over 7,500 customers.

These customers include bulk transportation and oil transportation customers with large volumes, as well as those requiring diverse transportation services, and small, medium, and micro customers from various industries.

COSCO SHIPPING connects upstream and downstream partners through the Global Shipping Business Network (GSBN) platform.

READ: GSBN, DNV ink major shipping decarbonisation MoU

At the recently concluded second Global Digital Trade Expo, GSBN won the Digital Trade Gold Award (DT Award) for its business innovation of blockchain-based electronic bill of lading.

As of October 2023, nearly 30 companies, including airlines, ports, third-party issuers, finance, and insurance, have officially joined GSBN.

READ: Why Resilient Supply Chains Need an Electronic Bill of Lading

Based on GSBN, COSCO SHIPPING has launched a blockchain-based paperless cargo release product, deployed in major domestic hub ports, and promoted to a number of overseas countries, significantly reducing import cargo release time from one to two days to less than four hours.

In September 2023, China Marine Bunker (PetroChina) Co., Ltd. (CHIMBUSCO) and COSCO SHIPPING Heavy Industry acquired AIP certificates from China Classification Society (CCS) and Bureau Veritas (BV) for a 7,800-tonne dual-fuel powered green methanol bunkering vessel.

More recently, COSCO SHIPPING Ports Limited (CSP) announced third quarter results of the company and its subsidiaries for the three months and nine months ended 30 September 2023.

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