The benefits of digitalisation in shipping
Actualizado: 17 nov
Achieving a universal eBL would drive significant benefits not only for the industry and its stakeholders, but for the world at large. According to McKinsey, universal eBL could:
Save the industry $6.5 B in documentation costs vs. physical bills of lading (B/L)
Unlock over $8B in gains for all stakeholders by reducing inventory and financing costs and enabling new business models
Unlock $30-40 B in global trade growth by reducing trade friction, especially for emerging markets.
Save 28,000 trees per year and significantly reduce carbon emissions by eliminating paper
Reduce illegal trade by 10-15%
A 2022 report by the Commonwealth association of 54 countries estimates that widespread adoption of digital trade documents could generate an additional US$1.2 trillion in trade for member countries by 2026. The report also suggests Commonwealth exporters could reduce costs by around 75 percent on average. Research from the Economic and Social Commission for Asia and the Pacific (ESCAP) suggests that fully digitalising regulatory procedures around trade could save between 32 and 86 kg of CO2 equivalents per end-to-end transaction. Disruptions over the past few years have also awakened consumers to the importance of keeping global supply chains running smoothly. Establishing a universal eBL is one key to making international trade more seamless, agile, reliable, and secure, even in the face of disruption on the level of a global pandemic. Digitalisation will also benefit the individual parties involved in an international trade transaction. A dramatically simplified and streamlined B/L process will enable carriers to become more efficient while providing a better experience for shippers. And every stakeholder will benefit from increased efficiency, accuracy and reduced administration costs.