Ferrexpo & thyssenkrupp Steel go live with CargoDocs electronic bills of lading
Ferrexpo, the Swiss-headquartered iron ore pellet producer, and thyssenkrupp, the German multinational industrial and technology group, recently went live with CargoDocs, executing their first ever shipment using electronic Bills of Lading (eB/Ls).
The shipment involved a cargo of iron ore pellets exported from Pivdennyi, Ukraine to Rotterdam, Netherlands, with Ferrexpo acting as Shipper and thysennkrupp as Receiver.
The original electronic Bill of Lading (eB/L) and supporting documents were handled digitally via CargoDocs, with key actions such as drafting, collaborative review, sign, issue, endorse and surrender carried out online via a single, secure platform. As a result, trade document turnaround times were slashed to just minutes as opposed to days or weeks, accelerating the trade and enabling timely discharge of the cargo against original eDocs.
Metals & minerals supply chains continue to make significant headway in paperless trade, with key participants such as Ferrexpo and thyssenkrupp joining a growing number of companies adopting digital solutions to streamline their trade processes.
Commenting on the recent go-live transaction, Adrian Gloor, Contract Operations Manager, Ferrexpo, said: “This is a cornerstone for Ferrexpo’s sales operations and we are committed to expand the use of eB/Ls to unlock the benefits of paperless trade for other business partners too. The initial challenges were quickly overcome thanks to the collaboration with essDOCS and thyssenkrupp and we are ready to continue to follow the path of modernization.”