Hanwha Solutions recently completed a series of electronic Bill of Lading (eBL) transactions marking the first use of ICE CargoDocs eBLs for South Korean exports.

The milestone transactions involved Hanwha Solutions as the seller and globally diversified mining and metals company, South32,  as the buyer, with the most recent shipment covering the sale of liquid caustic soda in bulk, transported aboard the CABU (caustic soda/bulk) combination carrier MV Bakkedal, from Yeosu, South Korea, to Bunbury, Western Australia.

The transactions also mark the first use of ICE CargoDocs by Hanwha Solutions, one of South Korea’s largest corporations and a Fortune Global 500 company. The company recently signed up for ICE CargoDocs as part of its ongoing digital transformation efforts, aimed at streamlining, unifying, and expediting its export documentation processes. By embracing a digital approach, Hanwha Solutions aims to leverage ICE CargoDocs to eradicate delays and inefficiencies associated with the printing/couriering of documents and mitigate paper-related fraud risks.

Commenting on the recent digital trade milestone, Kyungyun Lee, Manager, Caustic Soda Sales, Hanwha Solutions, said: “By using eBLs we have enhanced business efficiency and credibility while also contributing to resource savings. Drawing from our positive experience, Hanwha Solutions intends to further integrate the use of eBLs in alignment with the carbon net-zero trend and our future strategic objectives.”