In our latest quarterly issue: Optimism for digital trade uptake in 2024 despite predictions of muted trade volumes, calls for digital standards extend beyond bills of lading, recent legislative and technological developments catalyzing trade digitalization + much more! + SUBSCRIBE

Industry News & Views

France’s Alexandre Holroyd brings forth proposal to boost digital trade in France: The country is set to become the next major economy to legally recognize electronic bills of lading, recently introducing a legislative proposal in the National Assembly (source: TFG). + READ MORE

BIMCO survey reveals demand for standardized solutions: Survey aimed at understanding the state of readiness for digitalizing information sharing between ports and ships reveals strong demand for a standardized Maritime Single Window (source: Port Technology). + READ MORE

A Guide to Digital Trade Finance: Deutsche Bank releases its detailed Guide to Digital Trade Finance, providing insights into the current state of play around legal frameworks, data standards, plus digitalization challenges and opportunities (source: Deutsche Bank). + READ MORE

Digital trade finance gets a lifeline: Xalts to acquire Contour Network: Singapore-based fintech, Xalts, is acquiring Contour Network, following the latter's earlier announcement in October 2023 that it would suspend operations due to insufficient funding (source: TFG). + READ MORE

Digitalize to enable global trade: ICE Digital Trade Co-Head, Marina Comninos, weights in on developments around legal acceptability of eBLs for the latest edition of the Institute of Chartered Shipbrokers (ICS) Shipping Network Magazine (source: ICS via ICE Digital Trade). + READ MORE

TradeTech: Catalysing Innovation: Recent World Economic Forum report examines the role of innovative technologies such as robotics, artificial intelligence, machine learning, and the Internet of Things in revolutionizing global trade (source: WEF). + READ MORE

Bank results show muted trade finance market: Major banks’ financial results for 2023 show trade finance activity is slowing in some key markets, weighed down by sluggish global trade volumes and significantly weaker commodity prices (source: GTR). + READ MORE

Shipping's Future Is Paperless: So What's Holding Us Back?: MSC's CDIO, Andre Simha, examines the most common objections to eBL adoption and how the industry can work together to overcome both real and perceived hurdles (source: Andre Simha via LinkedIn). + READ MORE

The changing landscape of container shipping alliances: Exploring the shifts in container shipping dynamics due to recent changes in carrier alliances, such as the OCEAN Alliance (CMA CGM, COSCO, Evergreen, OOCL) (source: Shipping and Freight Resource). + READ MORE

The Power of Stablecoins in Transforming Global Trade Finance: Examining how stablecoins (i.e. cryptocurrencies pegged to a fiat currency) could provide a faster, cheaper, more secure means of conducting trade finance transactions (source: Andrea Frosinini via LinkedIn). + READ MORE

Which Economies Benefit the Most from FTAs?: Having analyzed the free trade agreements of 100+ economies & trade blocs, BCG released its ‘Trade Engagement Index’ (TEI) to assist private & public sector stakeholders in navigating the global trade environment (source: BCG). + READ MORE

Timor Leste – going places in global trade: Timor Leste becomes the latest country to adopt the UNCITRAL MLETR, granting electronic bills of lading, promissory notes and bills of exchange the same legal status as their paper equivalents (source: Shipping and Freight Resource). + READ MORE

2024 predictions: What’s in stock for tech for trade, treasury & payments: Industry experts share their predictions for tech in trade, including an ‘infrastructure revolution’ in payments plus developments across APIs & standards to support ESG efforts (source: TFG). + READ MORE

Digital trade’s golden age is underway for APAC: Nick Kerigan, MD & Head of Innovation at Swift, on how API-driven platforms will accelerate the usage of eBLs, as APAC is expected to continue outpacing the rest of the world in digitalizing trade (source: ET CIO). + READ MORE

Baltimore bridge collapse unlikely to disrupt global trade: Analysts & trade stakeholders share views on how the Baltimore’s port closure may cause short-term disruption to US supply chains but is unlikely to have a major impact on global trade (source: GTR). + READ MORE

Electronic Bill of Lading FAQs: In light of the UK's ETDA granting legal recognition to eBLs, the IG of P&I Clubs recently published FAQs to assist trade participants in understanding the impact of the recent legislation and the Clubs’ role in supporting the digital shift (source: IG P&I). + READ MORE

ICE Digital Trade News

KEB Hana Bank signs MoU with ICE Digital Trade: Facilitating a collaboration between the two parties, whereby ICE Digital Trade will support the leading Korean banking group’s adoption of ICE CargoDocs. + READ MORE

Coming Soon: ICE EUA Mini Futures: On April 22, 2024, ICE will launch its first European Union Allowance (EUA) Mini Futures contract, offering trading in lot sizes of 100 EUAs to meet demand from shipping industry participants seeking to manage price risk (source: ICE via LinkedIn). + READ MORE

ICE Digital Trade in Numbers