Singapore – 18th October 2021 – Ocean Network Express (ONE) Pte. Ltd. has announced its plans to expand its electronic Bills of Lading (eBL) offering with technology provider WAVE BL, with the objective to enhance and accelerate digital trade adoption across its supply chain.
ONE and WAVE BL have been working on eBL solutions and after successfully jointly completing the initial pilot rollout, ONE will start to extend the WAVE BL offering to more customers and business partners.
The blockchain-backed digital shipping platform ensures the highest legal, security, and privacy standards in the maritime shipping industry, providing an electronic alternative to traditional print documents.
ONE continues to position itself as a leader in early adoption for technological advancements that showcase improvements to the industry ecosystem. By digitizing title transfers, ONE anticipates operational workflow improvements that shorten document issuance time and transfer process. The eBL solution is expected to strengthen ONE’s overall e-commerce services. For its customers, the solution will cut administrative costs, whilst improving the overall process.
“As part of our digitalization journey, we have been focusing on our integration capability to strive for new digital offerings to our customers and partners. We started to offer the e-BL services via WAVE BL as a strategic partner to expedite core steps of the supply chain and save time and cost for our customers. With a robust solution and an increasing network, we aim to enhance our customer experience through rapid & paperless transfer,” says Sundeep Sibal, Global Head of Commercial & Service Management at Ocean Network Express Ltd.
WAVE BL will provide an end-to-end cryptographic endorsement and surrender system for issuing eBLs in real-time and offer onboarding support for ONE customers and business partners integrating onto the platform.
“This marks an important milestone for all parties involved and the shipping industry at large. Cooperation with ONE speaks volumes to the trajectory of digital trade and its immense influence in the market. We are excited to scale our solution with support from the leadership at ONE,” says Gadi Ruschin, CEO and co-founder at WAVE BL.
For more information, please visit ONE eBL page.
With its global headquarters in Singapore, Ocean Network Express (ONE) is a joint venture between ‘K’ Line, MOL, and NYK. The shipping company serves more than 14,000 customers in 63 countries, supported by more than 7,000 employees. ONE provides container shipping services to 257 container ports all over the world. The company’s fleet of 224 vessels includes some of the world’s largest container ships, with a capacity greater than 24,000 TEU to transport large volumes of goods. ONE’s vision is to be sustainable, resilient, and a trusted partner for customers in delivering global shipping solutions. The company won the EcoVadis Gold Medal award in 2019 for its commitment to sustainability.
About WAVE BL
WAVE BL is a blockchain-based digital courier platform that mirrors the traditional process for transferring original paper documents — electronically. Our solution enables instant, encrypted, and authenticated transfer of Bills of Lading and other unique digital documents. WAVE BL’s platform is designed to meet the needs of every member along the supply chain, from the smallest importer to the largest shipping carriers and banks.
Ocean Network Express