CARGODOCS™ SERVICES MAKE ELECTRONIC BILLS OF LADING A REALITY

BP OIL UK, MORGAN STANLEY, INEOS, DENHOLM BARWIL AND BROSTROM TANKERS REPLACE PAPER DOCUMENTS WITH CARGODOCS™

VALETTA, MALTA, 29 January 2010: Electronic Shipping Solutions, the leading shipping eDocs provider announces the launch of its revolutionary service CargoDocs™.  BP Oil UK, Morgan Stanley, INEOS, Denholm Barwil and Brostrom Tankers part of the A.P. Moller - Maersk Group are ESS’s first customers to create and transact an electronic Bill of Lading using CargoDocs™.   

The shipping industry has long sought an electronic solution to solve the significant inefficiencies caused by the use of paper documents.  These include vessel and cargo delays, stalled credit lines, lack of supply chain visibility, risk of fraudulent bills and the need to provide Letters of Indemnity (LOIs). Complexity and conservatism have left shipping as one of the last major industries to adopt paperless solutions, but ESS and its customers believe that CargoDocs™ will now help bring trade up to speed.

The first CargoDocs™ electronic Bill of Lading was issued by the BRO DELIVERER on Monday January 25^th for a shipment from Ineos’s Finnart Terminal in Scotland to BP’s Terminal in Belfast, after being electronically signed by the vessel’s Master. Indeed, the electronic Bill of Lading was transacted from Scotland to London to Milton Keynes and produced back to the vessel in less than two hours.  The cargo involved a number of refined products sold by Morgan Stanley. “The electronic transfer of shipping documentation is a significant step forward for the industry,” said Guy Jarman of Morgan Stanley. “We are excited to be associated with this important development.” 

"CargoDocs™ fit perfectly within Brostrom’s fleetwide adoption of broadband services and short sea services,” says Andreas Jorgensen, Operations Manager for Brostrom Tankers.  “It eases the administrative burden for the Captain and fosters real time savings.” 

BP has been involved with ESS for over five years, contributing to the development and evolution of CargoDocs™.  Rob Ramos, UK Supply Operations Manager at BP Oil UK confirmed the use of BP’s first electronic Bill of Lading, saying "BP concluded testing last year and are now comfortable with eDocs and welcomed the opportunity to participate in this first electronic trade."

ESS is working with a number of leaders in the oil, gas and product industries during 2010 to rollout CargoDocs™ across Europe, North Africa, the US Gulf Coast and Caribbean regions. 

About ESS
ESS provides electronic shipping document solutions (eDocs) for international trade participants, empowering Users to electronically manage and transact documents required for day-to-day operations, compliance and Customs purposes.  ESS develops its eDocs Services using a collaborative industry-lead approach through its Users Association, the ESS-Databridge™ Development Group (DDG) since 2005.  These collaborators, who are also ESS customers, include many of the world’s largest companies including leading oil companies, commodities traders, trade finance banks, ship operators, surveyors and ships agents.  For additional information on ESS go to www.essdocs.com.

More Information:
For more information on the contents of this Press Release, please contact:               

Attn:  Cynthia Worley, Head New Markets, Electronic Shipping Solutions
T:       +44 20 3102 6616
E:       media@essdocs.com