Orient Overseas Container Line (OOCL) will switch to Electronic Bills of Lading (eBL) to enhance efficiency across the global supply chain and reduce its carbon footprint.
OOCL’s eBL solution is powered by digital solutions provider IQAX Limited and built on Global Shipping Business Network (GSBN)’s blockchain platform.
According to a recent statement, the new eBL solution offers issuance of online Bills of Lading, as well as enabling different parties to manage the eBL and to perform title transfers, surrenders for delivery, status updates and history reviews.
OOCL said the adoption of eBL will increase security and accuracy, reduce supply chain uncertainties and delays, and control costs.
The news comes as part of OOCL’s efforts to achieve Environmental, Social and Governance (ESG) goals, such as tackling the challenges of climate change and assuring sustainability.
Switching to a paperless solution will enable OOCL to help eliminate waste generation and the consumption of forest resources, and to minimise its carbon footprint.
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“OOCL has always been a pioneer in deploying the latest technology to drive a real, tangible improvement in operations,” said Kenny Ye, Chief Operating Officer of OOCL.
“Switching to eBL not only allows us to deliver an enhanced shipping experience to our worldwide customers, but also helps OOCL and our customers achieve multiple goals in terms of reducing costs, enhancing operational efficiency, and reducing the environmental impact of our activities.
“The launch of OOCL’s eBL demonstrates our commitment to the environment and to providing high quality services. It will continue to be part of our mission to develop and implement further technological advances to assist our customers achieve the optimal shipping solution.”
OOCL released promising unaudited financial results for the second quarter ended 30 June 2022, posting total revenues of $5.2 billion.