Lloyd's Shipping & Trade Law

The digitalisation of international trade is gathering momentum in the maritime industry. The latest development in the UK saw the Electronic Trade Documents Act 2023 come into force on 20 September 2023. This legislation effectively provides legal certainty for trade documents that exist in electronic form, including electronic bills of lading (eBLs). Since the majority of bills of lading used in international sales transactions operate under English law, it is expected that more jurisdictions will follow suit and introduce their own laws to make way for digital trade documentation. This article explores the future prospects of eBLs in the evolving legal environment and the new era of paperless trade.

The digital revolution is reshaping industries worldwide, and the global shipping sector, perhaps notorious for its reliance on traditional paper-based methods, is at a pivotal junction. BIMCO is helping to drive forward this transformation with its "25 by 25" campaign. This initiative targets a significant shift from the standard paper-based bills of lading to electronic bills of lading (eBL) for bulk shippers willing to pledge to carry at least 25 per cent of their annual trade volume on eBLs by 2025, marking a significant commitment to modernisation and environmental sustainability within the industry.

Inherent vice, bailment and causation