IQAX eBL streamlines bill of lading processes, boosts
visibility, and enhances security at no extra cost for Hapag-Lloyd
customers.
HONG
KONG, May 6, 2024 /PRNewswire/ -- IQAX Ltd., an
innovative developer of technology solutions for shipping and
logistics based in Hong Kong,
announced that Hapag-Lloyd, one of the world's largest container
shipping lines, will adopt IQAX eBL to issue electronic bills of
lading (eBLs).
Hapag-Lloyd has chosen to adopt IQAX's industry-leading IQAX eBL
solution to strengthen customer service and accelerate its
transition towards 100% adoption of eBLs by 2030.
"As challenges from complex, volatile supply chains continue to
grow, Hapag-Lloyd recognizes the need for stronger digital tools to
provide stability and transparency to our customers. By working
with IQAX, we can offer another robust, paperless solution that
maintains visibility and empowers decision-making," said
Nilesh Popat, Director – Service
Delivery at Hapag-Lloyd.
IQAX eBL leverages the Global Shipping Business Network (GSBN),
a blockchain infrastructure that was specifically built to help
digitize the shipping industry. The network allows only authorized
parties to contribute and consume shipping data, ensuring
traceability and security.
"More than 12,000 customers already trust IQAX eBL to manage
their electronic bills of lading. IQAX eBL provides a fast and
reliable system that will give Hapag-Lloyd's customers full control
of their eBLs along with complete visibility of shipment and
document milestones at no extra cost," said Lionel Louie, IQAX's Chief Commercial Officer.
"Between Jan. 2023 and Mar. 2024, IQAX eBL has processed more than
180,000 carrier's original eBLs representing an estimated
US$29 billion worth of goods."
IQAX eBL simplifies document transfers by seamlessly connect all
parties involved in global shipping, reducing document transfer
timeframes from weeks to just seconds while enhancing security.
Providing wider benefits to users, nine different banks have
already adopted IQAX eBL. These banks are Bank of China Limited,
Bank of China (Hong Kong) Limited, Bank of Communications Co.
Ltd., Bank of Ningbo, China
Merchants Bank, CITIC Bank, Shanghai Pudong Development Bank Co.
Ltd, Shanghai Rural Commercial Bank Co. Ltd., and The Export-Import
Bank of China.
IQAX eBL gives Hapag-Lloyd's customers a unified view of
shipment milestones and document status through a single platform,
a unique feature that strengthens collaboration by giving shippers,
consignees and banks a shared view of the latest status of both
containers and documents to aid with trade financing and titleship
transfer decisions.
Both IQAX eBL's end users and Hapag-Lloyd's customers stand to
benefit from the shipping line's decision to onboard the IQAX eBL
solution, further accelerating the adoption of digitalised
trade.
About IQAX
IQAX is a global information technology company that provides
intelligent and digital transformation solutions using blockchain
for enterprises in the logistics ecosystem. Backed by a strong
heritage in container shipping, IQAX strives to foster a harmonized
and connected global trade environment. As an industry leader, IQAX
connects with shippers, freight forwarders, carriers, terminals,
and financial institutions, and empowers them with digitized
solutions to meet emerging business challenges throughout the
supply chain.
IQAX is an independent technology company wholly owned by Orient
Overseas International Ltd. (HKEX:0316), which is in turn part of
Orient Overseas Container Line (OOCL), one of the largest
integrated international transport and logistics companies in the
world.
About Hapag-Lloyd
With a fleet of 266 modern container ships and a total transport
capacity of 2.0 million TEU, Hapag-Lloyd is one of the world's
leading liner shipping companies. In the Liner Shipping segment,
the Company has around 13,500 employees and 403 offices in 140
countries. Hapag-Lloyd has a container capacity of 2.9 million TEU
– including one of the largest and most modern fleets of reefer
containers. A total of 113 liner services worldwide ensure fast and
reliable connections between more than 600 ports on all the
continents. In the Terminal & Infrastructure segment,
Hapag-Lloyd has equity stakes in 20 terminals in Europe, Latin
America, the United States,
India, and North Africa. Around 2,900 employees are
assigned to the Terminal & Infrastructure segment and provide
complementary logistics services at selected locations in addition
to the terminal activities.
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SOURCE IQAX Limited