Q1 2015 was marked by a steady increase in paperless trade uptake, driven by key geographic territories embracing eDocs for the very first time and major players in the Agri and Metals & Minerals markets either adopting paperless trade as a first, or reinforcing and expanding their ongoing use of electronic Bills of Lading and eTrade Finance. In Industry news, concerns over paper-fraud continued to dominate discussions in the trade & finance space, which we anticipate will provide substantial impetus for further adoption of secure, paperless processes. On the regulatory front, we welcomed a major boost for paperless trade in Agri when the IPPC announced its approval of a universal system for global ePhytosanitary Certificates – a big step forward in ongoing global efforts to curb the constrictive limitations of paper processes and all that they entail.  

Industry News & Views

Trade world awaits Qingdao fraud verdict: GTR gives us the latest scoop on the major paper-related fraud story that continues to rock the commodities trading world almost one year onward. + READ MORE

IPPC approves system for global ePhytosanitary Certificates: IPPC agrees to global ePhyto system in effort to further enhance secure information sharing and curb paper-related costs & bureaucracy. + READ MORE

Export finance scam costs USDA US$10m: TFR covers the story on recent indictments for multi-million dollar fraud involving fake commercial invoices and modified paper bills of lading. + READ MORE

First BPO in Italy to replace Open Account transaction: The story on the latest Bank Payment Obligation transaction, yet another BPO ‘first’ of many more to come (source: Global Trade Review). +READ MORE

Electronic Bills of Lading - Why it's different this time: essDOCS VP Marketing, Nick Demetriou, weighs in on the current status of eB/L uptake for the Baltic Briefing. + READ MORE
 

Trade Finance is the new Payment: Corporate Treasury expert & Bellin CEO Martin Bellin provides a unique perspective on the inevitable transition to paperless Trade Finance. + READ MORE

Contributing to the Development of Global Paperless Trade: essDOCS VP Global Rollouts, Katerina Anagnostara, talks global paperless trade with major Greek maritime news website maritimes.gr. + READ MORE

A Trail of Paper Follows every air cargo shipment: The Emirates Sky Cargo Team provides an update on the status of e-air waybill uptake in this feature for the FT.+ READ MORE

essDOCS Company News

essDOCS Users & Stakeholders Association holds first China-based DDG Grain & Oils Workshop: Attended by over 40 representatives of major global & regional Agri houses. + READ MORE

Cargill extends 3-year agreement with essDOCS: To rollout & use CargoDocs globally, expanding solution use for bulk and containerized grain, iron ore and vegoil shipments. + READ MORE

Bunge signs multi-year agreement with essDOCS: To rollout CargoDocs globally across its grain and oilseed trade routes. + READ MORE

CargoDocs News

Vale completes first trade using CargoDocs: For an iron ore shipment ex-Brazil to China, with the receiver being a major Chinese iron ore trader. +READ MORE

Copper Trade embraces CargoDocs: First use of CargoDocs eB/Ls for copper trade, involving a shipment ex-Chile to a major Japan-based metals processing company. +READ MORE 

CargoDocs Spreads to Oman: Major essDOCS mining & trading customer completes first ever shipment using CargoDocs electronic Bills of Lading into Oman. +READ MORE

CIMB Group signs on to CargoDocs: CargoDocs for Trade finance spreads to Malaysia. + READ MORE

Cargill executes first container shipment using CargoDocs: involving containerized grain cargo ex-US to Taiwan. + READ MORE

Control Union goes live with CargoDocs: Major global independent inspector / certifier goes live with electronic Bills of Lading. + READ MORE

CargoDocs Spreads to Peru: First use of CargoDocs electronic Bills of Lading for a Cargill grain shipment into Peru. + READ MORE

Colombia embraces CargoDocs: Major essDOCS energy customer completes first ever CargoDocs shipment into Colombia. + READ MORE

CargoDocs 15.1 released to production: featuring over 80 major improvements in functionality, accessibility and ease of use. + READ MORE

essDOCS in Numbers