- MSC customers will be able to receive the bill of lading electronically, 
without any change or disruption to their day-to-day business operations.

- Eliminating paper from the shipping transaction will make every aspect of 
commercial container shipping easier, faster, more effective and more secure.

- The shipping industry can save almost USD 4 billion by transitioning to an 
eBL.

- Electronic bills of lading (eBL) help mitigate the impact of trade 
disruptions on cargo flows during COVID-19. 

MSC Mediterranean Shipping Company, a global leader in container shipping and 
logistics, is officially introducing the electronic bill of lading (eBL) for 
its customers around the world, following a successful pilot phase, using a 
solution on an independent blockchain platform WAVE BL. The eBL enables 
shippers and other key supply chain stakeholders to receive and transmit the 
bill of lading document electronically, without any change or disruption to 
day-to-day business operations.

WAVE BL is a blockchain-based system that uses distributed ledger technology to 
ensure that all parties involved in a cargo shipment booking can issue, 
transfer, endorse and manage documents through a secure, decentralised network. 
Users can issue all originals, negotiable or non-negotiable, and exchange them 
via a direct, encrypted, peer-to-peer transmission. It's also possible for 
users to amend documents. WAVE BL's communication protocol is approved by the 
International Group of Protection & Indemnity Clubs, and meets the highest 
industry standards for security and privacy.   

"MSC has chosen WAVE BL because it is the only solution that mirrors the 
traditional paper-based process that the shipping and cargo transportation 
industry is used to," says Andre Simha, Global Chief Digital & Information 
Officer at MSC. "It provides a digital alternative to all the possibilities 
available with traditional print documents, just much faster and more secure."

The WAVE BL platform can be used free of charge throughout 2021 for exporters, 
importers and traders. Users only pay for issuing the original documents, and 
they do not need to invest in any IT infrastructure or make operational changes 
in order to use the service. They can simply sign up via MSC's website: 
www.msc.com/eBL.

Longstanding advocacy for digitalisation in shipping

MSC has long recognised the importance of digitalisation across the shipping 
industry and has been one of the pioneers behind the industry's digital 
transformation. As a founding member of the Digital Container Shipping 
Association (DCSA), MSC has participated in a number of initiatives focused on 
driving standardisation, digitalisation and interoperability in container 
shipping. Andre Simha is also the Chairman of DCSA.

Introducing an eBL solution is a critical step in the overall digitalisation of 
the industry. "Traditionally, the shipping industry has relied quite heavily on 
physical paper documents. And among these, the BL is the most important 
transport document in international trade," states Andre Simha. "While there 
have been attempts to create an eBL solution in the past, we are now in a 
position to introduce a solution that can pave the way to mass eBL adoption, 
which will mean significant savings for the shipping industry."

Saving the shipping industry billions

DCSA research indicates that by achieving just 50% eBL adoption by 2030, the 
industry could potentially save more than USD 4 billion per year. In addition 
to the significant cost savings, the eBL offers a wide range of benefits to 
shippers, including eliminating the 'Document transportation' factor from the 
supply chain. Shippers can instantly transfer original and negotiable 
electronic documents across borders. The solution enables faster document 
transfers, which in turn, leads to a shorter payment cycle. And electronic 
processes are far less susceptible to forgery, fraud, loss or human error. 

As Andre Simha comments, "Eliminating paper from the shipping transaction will 
make every aspect of commercial container shipping better, faster, more 
effective, more secure and environmentally-friendly." 

Gadi Rushin, WAVE BL's CEO and Co-founder, "Our goal from the very start has 
been to change the way the world trades by digitising document workflows while 
ensuring the highest legal, security and privacy standards. MSC is helping to 
create a new trade norm that will ultimately affect the rest of the market and 
save the trade industry billions of dollars."  

Helping countries severely impacted by COVID-19

While MSC has worked with WAVE BL on piloting its eBL solution since 2019, 
COVID-19 has created an even greater drive towards digitising the BL. "The 
global pandemic has restricted human and transport mobility in many places," 
Andre Simha explains. "Countless containers have been stuck at various ports, 
terminals, depots and warehouses around the world because the receiver doesn't 
have the original paper BL required to release these goods at their 
destination." 

Here the eBL addresses a very current need, enabling stakeholders to overcome 
border restrictions, interruptions in postal services and other 
pandemic-related disruptions. Shippers can also allow employees to work 
remotely by dematerialising the BL and other shipping documents. 

Worldwide implementation 

After running successful pilot projects in select countries since 2019, MSC is 
now introducing its digital solutions to all customers worldwide, paving the 
way for widespread eBL adoption. MSC is also exploring other eBL platforms to 
adapt to market demands. 

"Now we're introducing our eBL solution to our broad customer base to ensure 
that even more of our customers are able to benefit from the advantages of a 
digital BL solution. In a matter of a few years, we expect the eBL to become 
the new norm." Andre Simha states. 

For more information on MSC's eBL: www.msc.com/eBL

For more information on WAVE BL: www.wavebl.com

About MSC: MSC Mediterranean Shipping Company, headquartered in Geneva, 
Switzerland, is a global leader in transportation and logistics, privately 
owned and founded in 1970 by Gianluigi Aponte. As one of the world's leading 
container shipping lines, MSC has 524 offices across 155 countries worldwide 
with over 100,000 employees. With access to an integrated network of road, rail 
and sea transport resources which stretches across the globe, the company 
prides itself on delivering global service with local knowledge. MSC's shipping 
line sails on more than 215 trade routes, calling at over 500 ports.

For more information visit www.msc.com

About WAVE BL: WAVE BL is a blockchain-based digital courier platform that 
mirrors the traditional process for transferring original paper documents -- 
electronically. Our solution enables instant, encrypted and authenticated 
transfer of Bills of Lading and other unique digital documents. WAVE BL's 
platform is designed to meet the needs of every member along the supply chain, 
from the smallest importer to the largest shipping carriers and banks.

For more information visit www.wavebl.com

https://mma.prnewswire.com/media/1498110/MSC_eBL_Infographic.jpg

Logo - 
https://mma.prnewswire.com/media/1495491/MSC_Mediterranean_Shipping_Company_Logo.jpg

https://mma.prnewswire.com/media/1496547/WAVE_BL_Logo.jpg

 
Source: MSC Mediterranean Shipping Company