Splash247: BIMCO joins GSBN board to push paperless trade

Published by Splash247

Shipping association BIMCO has joined the board of Global Shipping Business Network (GSBN), deepening a partnership focused on electronic bills of lading and common standards for paperless trade.

The Hong Kong-based digital trade consortium said BIMCO’s appointment will strengthen work around eBL adoption, interoperability and industry standards across container, bulk, tanker and specialised shipping.

The move comes as shipping’s eBL push increasingly shifts from simply replacing paper documents towards making competing platforms, banks and trade systems work together.GSBN and BIMCO have already worked together on eBL standards, with the consortium supporting BIMCO data formats alongside other industry frameworks.

Attention has more recently turned to ISO 5909, the international standard published in January this year covering the business processes and data requirements behind electronic bills of lading. The standard is designed to provide a common framework for securely transferring digital title documents between platforms.

GSBN said greater standardisation is particularly important in bulk and commodity trades, where bills of lading are closely tied to letters of credit and other trade finance documentation. Digital presentation of the documents to banks could remove another layer of physical paperwork from the transaction chain.

“The transition to paperless trade depends on trusted collaboration, common standards and broad industry participation,” said GSBN chief executive Bertrand Chen.

BIMCO chief digital officer Grant Hunter said standards and interoperability would become increasingly important as electronic documentation gathers pace.

The two organisations have been moving closer for several years. GSBN said in 2025 that its network had already implemented BIMCO eBL standards and was adding the latest DCSA eBL API while preparing for ISO 5909.

GSBN has also been pushing eBLs beyond the container sector. Splash reported in 2023 that COSCO’s bulk and energy shipping divisions had begun issuing electronic bills through the network, connecting miners, traders, banks and cargo buyers digitally.

This year the consortium has expanded the other end of the chain, bringing Abu Dhabi Customs and China’s Chongqing International Trade Single Window into its eBL ecosystem and completing live cross-platform trade finance transactions involving banks in Asia.

GSBN’s network now includes shipping lines, terminals, banks and technology providers and accounts for more than half of the containers handled globally. BIMCO has around 2,100 members in 120 countries representing roughly two-thirds of the world fleet by deadweight.