Tata Steel executes maiden CargoDocs eB/L transaction for imports into Turkey
Tata Steel said that it recently executed the maiden CargoDocs electronic Bill of Lading (eB/L) transaction for imports into Turkey.
The milestone was achieved via a shipment involving the Indian steelmaker as the shipper while the receiver was Tatmetal Çelik Sanayi Ve Ticaret.
Tata Steel said that the transaction covered the bulk export of steel coils shipped from Dhamra Port in Odisha, India to the Turkish port of Karadeniz Eregli.
The original eB/L was handled through the essDOCS-provided CargoDocs digital trade platform. All the important actions like drafting, sign, issue, collaborative review, endorse, and surrender were undertaken online through the single, secure platform, said Tata Steel.
As a result, the dependence on emails and error-prone manual processes were removed, while considerably speeding up the trade.
Tata Steel said that particularly, the original eB/L was transferred across the entire chain within 48 hours, compared to days or even weeks needed in a conventional paper-based transaction.
Rajeev Singhal — Tata Steel Vice President of Marketing & Sales (Flat Products) said: “Tata Steel pioneered in executing digital transactions for exports shipments in March 2021 by leveraging both in-house potential and external ecosystem. This transaction underscores our efforts of leading technology-led disruptions and is a notable milestone in our journey towards 100% digitalisation.
“We will continue to make our supply chains more agile in order to provide seamless and secure ways for our suppliers and customers to connect and execute transactions with added visibility, efficiency, and speed.”