Malaysia’s pioneering automotive and vehicle logistics company becomes the first ICE Digital Trade customer to operationally roll out the Local Law eBL solution, to digitize the 10,000+ BLs it processes annually.

London & Kuala Lumpur – 24 October 2024: ICE Digital Trade, a part of Intercontinental Exchange, Inc. (NYSE: ICE), today announced that GIGA Shipping, the leading Malaysian Roll-on-Roll-off (RoRo) shipping operator, has adopted the ICE CargoDocs Local Law eBL solution to digitize all its Ocean and House Bills of Lading.

GIGA Shipping commenced its digitalization journey with ICE Digital Trade as it sought a solution to the major delays caused using paper-based Bills of Lading across its supply chain, with a view to adopting a fully paperless process to accelerate, streamline and centralize documentation processes for itself and its customers.

The company selected ICE CargoDocs to digitize the entirety of its approximately 10,000+ Ocean and House Bills of Lading processed annually, relating to intra-Malaysia automotive shipments.

GIGA Shipping’s adoption of ICE CargoDocs marks a major milestone for digital trade, as it becomes the first company to operationally roll out Local Law eBLs: 

• GIGA Shipping chose UK law to govern its electronic Bills of Lading, leveraging the UK’s Electronic Trade Documents Act 2023 (ETDA) which recognizes eBLs as the legal equivalent of paper bills of lading.
• ICE CargoDocs Local Law eBLs – which are approved by the International Group of P&I Clubs – are compliant with the UK ETDA and, as such, GIGA Shipping’s supply chain is able to swiftly adopt eBLs since they are not required to sign a multilateral users agreement.

Today, GIGA Shipping’s ambitious plan to digitize at scale is coming to fruition – as it begins its operational rollout of the ICE Digital Trade solution, with the majority of its shipper and consignee clients already opting to use ICE CargoDocs to receive, transfer, and manage eBLs digitally. 

In addition, GIGA Shipping and its customers will become the first trade participants to use ICE CargoDocs eBLs for automotive cargos, not only in Malaysia but anywhere in the world.

Commenting on GIGA Shipping’s rollout of ICE CargoDocs, Katerina Anagnostara, Director, Customer Success, ICE Digital Trade, said: "We are thrilled to enable GIGA Shipping’s pioneering journey to fully paperless trade enabled by our Local Law eBL solution. This transition not only marks a significant milestone for ICE Digital Trade and GIGA Shipping, but also sets a new standard for digitalization in the RoRo shipping segment and the wider automotive cargo logistics industry."

Datuk Seri Panglima Kumar Prabakaran, Managing Director, GIGA Shipping, added: "We are making remarkable progress in transitioning to electronic bills of lading. Our commitment to innovation ensures that we remain at the forefront of the shipping industry. ICE Digital Trade and GIGA Shipping’s dedicated teams have collaboratively worked to bring this vision to life, and we eagerly anticipate the promising future ahead.”
 

About ICE Digital Trade:

ICE Digital Trade (formerly known as essDOCS) provides paperless global trade management solutions which digitize, automate, and accelerate trade & post-trade operations, finance, logistics, compliance, and visibility.

70,000+ companies – including leading commodity producers and traders in the metals & minerals, agriculture, oil & gas, energy, and petrochemicals sectors, plus banks and chambers of commerce – use our digital trade solutions globally across all key shipping modes.

ICE Digital Trade is a part of Intercontinental Exchange, Inc. (NYSE: ICE).

About GIGA Shipping:

A pioneer of automotive and vehicle logistics in Malaysia, GIGA Shipping has established itself as the largest and preferred solutions provider in the Malaysian automotive industry. GIGA Shipping is the only company in Malaysia that provides end-to-end solutions, including sea and land transportation, freight forwarding and vehicle terminal centres to support movement of motor vehicles from the factory floor to the dealership door.

Since its start up two decades back, GIGA's collective experience and expertise as an Intelligent and Integrated Vehicle Logistics Solutions supplier has enabled it to offer clients a full suite of services as a one-stop centre for the door to-door collection handling, freighting, customs authorisation and conveyance of vehicles.

GIGA strives to keep serving its customers, whose needs are ever-changing, as best as it can. By strengthening its ties with customers, the company hopes to continuously improve the standards of its service quality and efficiency. 

Learn more about GIGA Shipping: https://www.gmg.my
 

ICE Digital Trade Contact:

Nicholas Demetriou, Director, Growth, ICE Digital Trade
nicholas.demetriou@ice.com
+30 210 724 5960

GIGA Shipping Contact:

Sarngini Kumar, Head of Business Transformation, GIGA Shipping
Sarngini.kumar@gigaship.com
+60 123456677