SIMIC

The Digital Container Shipping Association (DCSA), a neutral, non-profit group established to further the digitalisation of container shipping technology standards, in conjunction with its nine member carriers, have announced the establishment of the Future International Trade (FIT) Alliance.

This came with the signing of a memorandum of understanding between DCSA, BIMCO, FIATA, ICC and SWIFT in which the organisations committed to collaborating to standardise the digitalisation of international trade.

Through this initiative, the FIT Alliance said it would work together to generate awareness about the importance of common and interoperable data standards and common legislative conditions across international jurisdictions and platforms.

The aim is to facilitate the acceptance and adoption of an eBL by regulators, banks and insurers and to unify communication between these organisations and customers, physical and contractual carriers, and all other stakeholders involved in international trade transactions.

"The digitalisation of documentation for container shipments will add value for international suppliers who rely on shipping across sectors," said David Loosley, secretary general and CEO of BIMCO.

"Aligning these standards with the electronic bill of lading standard for the dry and liquid bulk sectors, which we are developing with assistance from DCSA, will help accelerate the digitalisation of trade globally."

"Containerships carry 90 per cent of the world's goods. As such, an incredibly diverse set of stakeholders touches the B/L transaction - from government regulators, to insurers, to shippers from every industry.

To achieve widespread use of eBL, they must all be on board with adopting digital B/L standards through our eDocumentation initiative," said Thomas Bagge, DCSA CEO.