BIMCO has warned against situations where fake “brokers” will attempt to trick owners into fixtures where there is no cargo available. The con also involves a request for advance funds to be remitted to an account allegedly belonging to the “agents” at the loading port.
In an encouraging development for trade digitalisation, BIMCO's "25 by 25" campaign has surpassed its initial target within its first year, achieving a 25.1% adoption rate of electronic bills of lading in iron ore trade.
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BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or almost fixed) by fraudsters seeking to trick owners to remit advance payments to accounts controlled by them. Using this information, we have put togethe... Please follow the link to continue reading.
Singapore Port Authority drives a hard line on bunker fraud.
BIMCO has been made aware of a company in India named Grand Shipping & Trading Company who is presenting themselves as a company facilitating BIMCO memberships.
Oswald Kuyler, Chief Operating Officer at MonetaGo, writes about how digitalisation can create a more secure shipping industry
BIMCO is developing a clause dealing with cyber security risks and incidents that might affect the ability of one of the parties to perform their contractual obligations.
See BIMCO's information, advice and news about eBills of Lading
Global trade still relies heavily on paper. The main risks of relying on paper are exposure to fraud, clerical errors and lengthy transfer and processing time. This is despite the fact that issuance of electronic bills of lading (eBLs) has been possible for more than 20 years on safe and well-establ... Please follow the link to continue reading.
