Hong Kong-based digital trade solutions company IQAX has announced that it has processed more than one million electronic bills of lading (eBL) transactions.
The company describes this milestone as one of the fastest global advancements in the adoption of paperless trade documentation.
According to the report, the volume of eBL transactions has increased by 250% over the past 18 months, driven by shipping and logistics companies rapidly transitioning from paper-based documentation to digital systems.
IQAX states that its eBL platform operates in compliance with international standards such as DCSA, BIMCO, and ISO 5909, enabling more efficient document exchange across different systems.
The company further notes that electronic bills of lading reduce document processing time from days to minutes, lower administrative costs, and significantly decrease the use of paper documents across the global logistics chain.
