The International Group of P&I Clubs (IGP&I) has approved TradeLens’ electronic bill of lading (eBL) system for use by its members, taking the total number of eBLs it accepts to seven. Made up of 13 protection and indemnity (P&I) clubs, the IGP&I as a whole provides marine liability cover for approximately 90% of the world’s ocean-going tonnage. Previously, the IGP&I’s rules specifically excluded liabilities in respect of the carriage of cargo under all electronic systems to the extent that the liabilities under such systems would not have arisen under a traditional paper system. This changed in February 2010, when the group decided that these liabilities would be covered, but only on systems that it had first approved. It then greenlighted electronic bills of lading (eBLs) administered by essDocs and Bolero. In 2015 it added Singapore-based eTitle to its list, and then in June 2019, edoxOnline was added – the first group-approved system to use blockchain technology, with blockchain-based digital courier platform Wave and CargoX’s blockchain-based solutions both being added to the list last year. TradeLens is now the latest system approved by the group. Jointly developed by Danish shipping firm Maersk and technology giant IBM, TradeLens is a blockchain-powered global… continue reading
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Source: CTRM Center