Singapore-based Blue Water Lines, a non-vessel owning common carrier (NVOCC), has become the first to adopt the electronic Bill of Lading (e B/L) in India using blockchain technology on the CargoX platform.
Blue Water Lines is run by the Abrao Group in India and West Asia, with comprising Omega Shipping, Poseidon Shipping and Aissa Maritime.
Portall Infosystems, a logistics management application, developed by Mumbai-based logistics conglomerate J M Baxi Group, was awarded a contract by the Indian Ports Association, an autonomous body under the Shipping Ministry, to roll out a pan-India Port Community System (PCS 1x).
CargoX runs a smart BL document transfer platform, using the neutral, public blockchain ethereum network.
The PCS1x, offering the P-CaSo curated marketplace of specialised services, was built by Portall Infosystems, and it has integrated CargoX’s Platform for Blockchain Document Transfer (BDT), which can be accessed by the stake holders.
PCS1x is currently operational in 19 ports with over 16,000 corporate stakeholders. The B2B marketplace (P-CaSo) for the ecosystem is integrated into the Indian Port Community System to bring various niche services with curated service partners, including services such as blockchain document transfer.
Portall and Cargox has urged other NVOCCs, forwarders and also exporters and importers to make the leap to move away from paper documents and embrace digital bills of lading and trade documentation, Portall said in a statement.