Ocean Network Express (ONE) has announced its 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 solutions and after successfully jointly completing the initial pilot rollout, ONE will start to extend the WAVE BL offering to more customers and business partners, according to a statement.
ONE claims that its blockchain-backed 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, the Singaporean container carrier anticipates operational workflow improvements that shorten document issuance time and transfer process.
The eBL solution is expected to strengthen the company’s overall e-commerce services and cut administrative costs for its customers, improving the overall process.
“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,” said Sundeep Sibal, Global Head of Commercial & Service Management at ONE.
Sibal went on to comment, “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 & paperless transfer.”
WAVE BL will provide an end-to-end cryptographic endorsement and surrender system for issuing eBLs in real-time and offer onboarding support for ONE’s customers and business partners integrating onto the platform.