ICE Digital Trade (formerly essDOCS)

A major milestone for tanker shipping, with only a few days left until SIRE 2.0 goes live on 2 September 2024! The OCIMF (Oil Companies International Marine Forum) Ship Inspection Report Program (SIRE) is a key industry tool for assessing the operational condition and safety of tankers and their crews. The new SIRE 2.0 is the first major update since 1993 – providing an enhanced, digitalized inspection program aimed at futureproofing the process in line with evolving risks, technology, expertise, and regulations. Learn more about SIRE 2.0: https://lnkd.in/gpZjn9h9 #Digitalization #Tankers #SIRE2 #MaritimeSafety #VettingInspection #ShipInspection #DigitalTransformation

Almost 100 countries are set to commit to adopting the UNCITRAL Model Law on Electronic Transferable Records (#MLETR), following years of negotiations over #WTO rules on #digitaltrade and #ecommerce. The World Trade Organization’s Joint Statement Initiative on Electronic Commerce is one step closer to fruition after negotiators agreed to a near-final text. The so-called “stabilized” text of the agreement released on July 26 follows eight years of dedicated negotiations by over 90 WTO Members. Once integrated into the WTO legal framework, the E-commerce Agreement will be the basis for global rules on digital trade among a broad range of WTO Members. The parties to the e-commerce initiative also pledge to “recognize the importance of eliminating paper forms and documents required for #importation, #exportation, or transit of goods”. The near-final text has been endorsed by large economies such as Canada, China, Japan, Mexico, Russia and South Korea, that have not yet developed laws recognizing digital trade documents. #digitization #paperlesstrade #electronicbilloflading #eBL #eDocs

Congratulations to our ICE CargoDocs customers BHP, Rio Tinto, Vale and Anglo American for this fantastic achievement. Congratulations also to BIMCO and the Future International Trade (FIT) Alliance for their tireless leadership. eBL adoption is accelerating in all shipping modes (tramp, breakbulk, barge and liner) as Governments, Multilateral Institutions, NGOs and Industry push for greater trade digitization. This achievement is particularly impressive as the vast majority of these transactions involved negotiable eBLs, of which a significant portion covered negotiable eBLs and supporting docs being digitally presented under eUCP 2.1 governed letters of credit under confirmed and, in some cases, back-to-back LCs.  This milestone would not have been possible without the deep collaboration between these mining companies and the ICE Digital Trade Customer Success team, who together built out the network of traders, banks, ship agents, and bulk operators involved in these trades. #BIMCO #FITAlliance #electronicbilloflading #eBL #eDocs #metals #minerals #bhp #riotinto #vale #angloamerican #icedigitaltrade

Check out highlights from Global Maritime Forum’s latest report on zero-emission pilots and #decarbonization projects in maritime #shipping – focusing on ship technology, bunkering and infrastructure, and fuel production solutions that can help the industry decarbonize by #2050. #netzero #lowcarbon

Check out highlights from Global Maritime Forum’s latest report on zero-emission pilots and #decarbonization projects in maritime #shipping – focusing on ship technology, bunkering and infrastructure, and fuel production solutions that can help the industry decarbonize by #2050. #netzero #lowcarbon

Highlights from a recent report published by the #UAE’s financial intelligence unit reveals that a staggering 41% of local trade-based money laundering (#TBML) cases involve #fraudulent #paper #billsoflading and #invoices! The report analyzed 610 cases across 2022-23. Secure #digitaltrade #documentation solutions are proven to go a long way in mitigating paper #fraud and protecting legitimate trade stakeholders who might otherwise be exposed by the fraudulent activities of criminal actors. Global Trade Review (GTR) #eDocs #paperlesstrade #eBL

In our latest quarterly issue: Recent industry reports highlight #digitaltrade challenges and achievements alongside actionable recommendations, key developments around #legal recognition of #digital #title #documents in #trade & #tradefinance, #digitalization use cases in practice + much more! #insights #news #paperlesstrade

Excited to have enabled our clients to achieve this #digitaltrade #milestone – using #ICE #CargoDocs to execute the first #eBL transaction for imports into #Bahrain! Look forward to continuing to support Bahrain Steel BSC, HSBC Bahrain, Anglo American and DBS Bank in their #paperless journeys towards #secure, #transparent and #sustainable #trade. #digitalization #electronicbilloflading #paperlesstrade #eDocs

As low-carbon hydrogen emerges as a key element of the net zero transition for the energy industry, this tracker published by The Center on Global Energy Policy at Columbia | SIPA collates all national hydrogen strategies that have been announced by 60+ governments globally - providing details on country-specific targets and measures, quotas for clean hydrogen consumption, and financial incentives.

Can #trade truly prosper without #digitisation? Our Co-Head, Marina Comninos, explores the hurdles to digitising trade and the key collaborative steps needed to accelerate adoption. Thank you ICC United Kingdom for inviting Marina to contribute to the latest issue of ‘Trade for Prosperity’ – an invaluable guide for any business looking to scale up its digital transformation efforts! #digitaltrade #paperlesstrade #interoperability #standards #eBL #MLETR #ETDA