BRITC eBL Platform Certified by IG P&I

The BRITC eBL Platform of CMES Shipping has been certified by the International Group of P&I Clubs (IG P&I). Same as the traditional paper bills of loading (BLs), the electronic BLs for maritime transportation issued and circulated through the platform are also within the insurance coverage of IG P&I, which indicates that the platform has entered a new phase of commercial application and promotion.

As one of the infrastructures created by CMES for the digital development of international shipping trade, the platform is a digital document platform that is real-time, secure, efficient, and reliable, based on cutting-edge blockchain technology. Specifically, the platform offers lifecycle BL solutions from issuance, circulation, change, and replacement to recycling, while protecting customers' commercial privacy, thus significantly reducing the logistics cost and time delays of paper BLs and enhancing the traceability and security of shipping trade. Meanwhile, the platform not only supports basic features, such as online and offline BL switch and issuance, but also enables financial features, such as digital presentation of trade documents, payment and settlement for shipping trade, and financing, demonstrating sound financial attributes and expansibility.

Electronic BLs, as "new digital infrastructure", have grown in importance in international trade in recent years. The Digital Container Shipping Association (DCSA) announced that it would achieve 100% coverage of electronic BLs by 2030. Additionally, the Baltic and International Maritime Council (BIMCO) initiated the "25 by 25 pledge" to encourage the bulk sector to raise the proportion of electronic BLs. In this context, the BRITC eBL Platform, as a digital service platform for international trade operated by an independent third party, has been certified by IG P&I in electronic BLs, which is a milestone in the implementation of digital documents and vital result of the Company in driving BL electronization worldwide and the digital development of international shipping trade.