IOC goes live with CargoDocs executing its first paperless trade transaction
Iron Ore Company of Canada (IOC), a leading North American producer and exporter of premium iron ore pellets and high-grade concentrate, recently went live with CargoDocs – having completed its first ever export shipment using electronic Bills of Lading, with Tata Steel Europe acting as Importer in the paperless trade transaction.
The original electronic Bills of Lading (eB/Ls) were handled via CargoDocs, with all key actions such as drafting, collaborative review, sign, issue, endorse and surrender completed online using a single, secure platform. Document turnaround time was reduced to just a few minutes compared to days or weeks required for paper transactions, speeding up the trade and ensuring prompt discharge of the cargo against original eDocs.
Commenting on the recent go-live transaction, Pascal Nobécourt, commercial manager, IOC, said: "eB/Ls is one of the leading practices that will bring the Marine industry into the 21st century. Thanks to all involved for making the roll out a success."
Dwaipayan Das, Shipping Operations Manager, Tata Steel Limited, added: “Congratulations to IOC, essDOCS and all others involved in the transaction. It is evident that there is growing acceptability within the industry for electronic transaction of key shipping documents.”
The go-live transaction marks yet another paperless trade milestone in the metals & minerals commodity segment, with key metals supply chain participants such as IOC joining a growing number of companies adopting CargoDocs to digitize and streamline their trade processes.