In a key landmark for the digitalisation of trade in the region, the first electronic Bills of Lading (eBLs) were recently issued to Safeline Freight and Fortuna, with transactions facilitated by blockchain using the TradeLens platform.
Safeline Freight and Fortuna have thereby become early adopters of the TradeLens eBL in the UAE. Combined, the two companies move more than 7,500 containers annually in and out of the UAE.
TradeLens is a carrier-neutral, blockchain-enabled digital supply chain platform jointly developed by Maersk and IBM. The solutions offered by TradeLens aim to accelerate the digitisation agenda of the supply chain industry around the world by transforming manual, paper-based and time-consuming administrative processes into digital ones. TradeLens allows an original bill of lading to be digitally issued directly from a carrier and moved electronically through its journey with all the stakeholders. This reduces the hassle of sending physical papers from one stakeholder to the other through a courier process, eliminates the costly possibility of documents getting lost or forged, and removes inefficiencies from manual processes.
According to Ahmed Beyi, CEO of Safeline Freight, “I was amazed at how easy and fast I can control all my bill of ladings through the TradeLens eBL. Since this is a cloud-based solution, all my consignments and documents are available to my team and me on any device anywhere in the world.”