Typically owners receive invoices for relatively small amounts by physical mail for example for alleged sludge removal, waste and other services, which usually were not asked for or used by the ships named on the invoices.
Global trade still relies heavily on paper. The main risks of relying on paper are exposure to fraud, clerical errors and lengthy transfer and processing time. This is despite the fact that issuance of electronic bills of lading (eBLs) has been possible for more than 20 years on safe and well-establ... Please follow the link to continue reading.
Bunker fuel traders in China say the use of mass flow meters at local ports is increasing amid growing expectations their usage will become mandatory in the near future.
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Banking and financial institution association ITFA has become the latest supporter of BIMCO’s 25 by 25 Campaign to help accelerate the adoption of electronic bills of lading in the bulk sector.
Four companies account for around 1 bn tonnes of iron ore shipping - read about their use of electronic bills of lading
Cyber security is an issue high on many companies’ agendas, especially in the wake of recent costly cyber security incidents involving large shipping companies. BIMCO has taken a lead on cyber security – by getting actively involved at the IMO and co-authoring the “Industry Guidelines on cyber secur... Please follow the link to continue reading.
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In a recent incident, the loss of paper bills of lading led to significant complications, costs and delays that could easily have been avoided if electronic bills of lading had been used.
Elizabeth is a partner at the Hong Kong office of Stephenson Harwood, specialising in complex, multi-jurisdictional litigation and arbitration. She has extensive experience in a range of commercial disputes, including cross-border fraud, corporate insolvency, and marine litigation and arbitration. ... Please follow the link to continue reading.
