Liner operator 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.
The 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.
ONE continues to position itself as a leader in early adoption for technological advancements that showcase improvements to the industry ecosystem. By digitising title transfers, ONE anticipates operational workflow improvements that shorten document issuance time and transfer process. The eBL solution is expected to strengthen ONE’s overall ecommerce services. For its customers, the solution will cut administrative costs, whilst 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. 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,” said Sundeep Sibal, Global Head of Commercial & Service Management at Ocean Network Express.
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 customers and business partners integrating onto the platform. “This marks an important milestone for all parties involved and the shipping industry at large. Cooperation with ONE speaks volumes to the trajectory of digital trade and its immense influence in the market. We are excited to scale our solution with support from the leadership at ONE,” said Gadi Ruschin, CEO and co-founder at WAVE BL.