C.H. Robinson said 10 of the top less-than-truckload carriers on its platform are now using electronic bills of lading. The post C.H. Robinson says eBOL collaboration now includes 10 major LTL carriers appeared first on FreightWaves.
(Bloomberg) They are relatively easy to fake. Frequently get lost. And can add huge amounts of time to any journey. Yet paper documents still rule in the $25 trillion global cargo trade with four billion of them in circulation at any one time. Most Read from BloombergKey Taiwan Tech Firms Helping Huawei With China Chip PlantsWall Street Fear Gauge Ratchets Up After Jobs Data: Markets WrapWhy a US Recession Is Still Likely — and Coming SoonKevin McCarthy Ousted as US House Speaker by Republica
Banks may struggle to detect fraud and comply with sanctions regulations, risking heavy fines and losses, due to a sudden inability to track thousands of vessels in Chinese waters over the last month. In late October, vessel tracking firms began registering a drop-off in data transmitted through receivers on the ground in China. The receivers .
Australia is in danger of being left behind on digitising trade finance as industry calls for a legal overhaul are hampered by government efforts described as muddled and lacking direction.
The coronavirus pandemic accelerated interest in digital solutions designed to replace the trade and shipping industries’ long reliance on paper-based documentation, but there is little sign of progress in Australia despite years of lobbying by figures in the trade sector.
“We’ve tried to inject positive support for reform over a long period of time, and we’re still waiting for that to happen,” says Bryan Clark, the director for trade and international affairs at the Australian Chamber of Commerce and Industry (ACCI), who sits on the National Committee on Trade Facilitation.