Swire Shipping, the leading provider of managed liner services, has achieved a significant first by accelerating a shipment of containerised grain from Australia to New Zealand using electronic bills of lading from Bolero International, the trade finance digitisation expert.
The transaction was the first use of Bolero’s electronic bills of lading (eBL) by Swire Shipping and the first on the Australia-New Zealand route and was completed through collaboration with BSM, the expert that specialises in the optimisation of trade execution business process including communication, compliance and document management.
The shipment conducted under open account, from Sydney and Newcastle to Tauranga, was undertaken on behalf of Cargill Australia, a major provider of grain, oilseeds and other agricultural commodities. Cargill Australia employs BSM for trade execution and Bolero for multi-party electronic document presentation (ePresentation). This solution combines BSM’s comprehensive, simple-to-use trade execution solutions and Bolero’s legal framework, eBLs and other digitised trade documents to deliver major savings in time and costs for Cargill Australia.
Following the success of this pioneering New Zealand shipment, Swire Shipping and Cargill Australia are now deploying eBLs to accelerate shipments of grain to the Solomon Islands from Australia. The adoption of paperless trade documents not only delivers major advantages in terms of speed, accuracy and security, but places companies at the forefront of a major trend as important trade and regulatory documents such as phytosanitary certificates are digitised. Read More . . >