OCEAN Network Express has announced plans to expand its electronic bills of lading (eBL) offering with technology provider Wave BL, with the objective to enhance and accelerate digital trade adoption across its supply chain.
ONE and Wave BL have been working on eBL systems and after successfully jointly completing the initial pilot rollout, ONE will start to extend the Wave BL offering to more customers and business partners.
ONE said the blockchain-based digital shipping platform ensures the highest legal, security, and privacy standards in the maritime shipping industry, providing an electronic alternative to traditional print documents.
By digitising title transfers, ONE said it was anticipating operational workflow improvements that shorten document issuance time and transfer process.
ONE global head of commercial and service management Sundeep Sibal said, “As part of our digitalisation journey, we have been focussing on our integration capability to strive for new digital offerings to our customers and partners.
“We started to offer the e-BL services via Wave BL as a strategic partner to expedite core steps of the supply chain and save time and cost for our customers. With a robust solution and an increasing network, we aim to enhance our customer experience through rapid and paperless transfer.”
Wave BL is to provide an end-to-end cryptographic endorsement and surrender system for issuing eBLs in real-time and offer onboarding support for ONE customers and business partners integrating onto the platform.
Wave BL CEO and co-founder Gadi Ruschin said, “This marks an important milestone for all parties involved and the shipping industry at large. Co-operation with ONE speaks volumes to the trajectory of digital trade and its immense influence in the market”.
