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The surge in US container imports continued in April when West Coast loaded imports amounted to 1.10m TEU.
Between 1996 and 2021, the lowest half-yearly tanker contracting volume was 3.0m DWT, recorded in the first half of 1999. Despite improved freight rates and a more positive market outlook, the first six months of 2022 ended with barely more than half that volume: only 1.6m DWT was contracted. Consequently, the order book to fleet ratio has fallen to 5.1% for both crude and product tankers, a ratio which is also the lowest since 1996.
On 5 September, 2023 the FIT Alliance, consisting of five founding members who work together to generate awareness about the benefits of going digital and the importance of common and interoperable data standards and common legislative conditions, introduced the eBL Declaration, aiming to encourage the widespread adoption of electronic bills of lading (eBL). Currently, nearly 100 organisations, encompassing carriers, shippers, freight forwarders, banks and technology providers, have signed up. In a virtual meeting with Gaftaworld, BIMCO, represented by Mads Wacher Kjærgaard (Manager, Standards, Innovation & Research) and the ICC Digital Standards Initiative (DSI), represented by Hannah Nguyen (Director - Digital Ecosystems), explored the transformative potential of this global movement and how Gafta members could actively participate.
“We don’t want to be a first mover on eBLs” is what we often hear – yet this is despite the first eBL systems having been around for more than 20 years.