BIMCO is pushing for 25% of e-invoices to be used for cargo usage in the dry bulk sector by 2025

The so-called “25-by-25 pledge” is part of ongoing efforts to accelerate the digitization of trade and streamline the supply chain process in the bulk sector.

“The broader adoption of electronic waybills is an important step in the digital transformation of the shipping industry,” said Grant Hunter, director of standards, innovation and research at BIMCO.

Leading miners Rio Tinto, BHP, Vale and Anglo American, along with shipowners and operators Oldendorff Carriers, Star Bulk and COSCO Shipping Bulk, have signed the pledge and will seek to move at least 25% of their annual volume for at least one commodity utilization of eBLs up to 2025

“We fully support the 25 by 25 pledge to use electronic waybills – as a key step to enabling faster, more secure and accountable trade flows and moving the industry closer to a fully digital trade future,” said Laure Baratgin, Director of Rio Tinto’s commercial operations.

BIMCO is a founding member of the FIT Alliance, a partnership between BIMCO, DCSA, ICC, SWIFT and FIATA that works to develop and adopt relevant standards to facilitate the use of eBLs.

The Shipping Authority claimed that, unlike eBLs, paper bills of lading are inefficient, slow trade and prone to fraud and human error, which poses unnecessary legal and economic risks, e.g.

“As a shipowner and operator, we fully support the 25 by 25 promise and the acceleration of the move to electronic bills of lading,” added Julius Posset, Head of Operations and Claims at Oldendorff Carriers. “We will encourage our colleagues to adopt eBLs and join the pledge as it ultimately benefits everyone in the supply chain.” Earlier this year, nine leading global transport companies affiliated with the Digital Container Shipping Association (DCSA) committed to eBLs 100% adoption by 2030 to accelerate the digitization of container trade.