Project

A. General Information

1. Title

Singapore-Thailand eBL pilot project

2. Status of the project
Pilot
3. Implementation period of the project/service:
From
2023
To
2023
5. Geographical coverage
Bilateral
Participating countries: Singapore, Thailand
Hub Point: Singapore
6. Participating agencies/entities of the project/service:
a. Development stage
Lead agencies/entities
Infocomm Media Development Authority (Singapore), Bunkerchain
Other participating agencies/entities
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b. Operational stage
Lead agencies/entities (op)
ExxonMobil Asia Pacific Pte., Bunkerchain, VLK, Bunkerchain
Other participating agencies/entities (op)
--
7. Main stakeholders/beneficiaries of the project
Traders (big enterprises)
Traders (SMEs)
Other Government Agencies (OGAs)
8. Business process category of the project
Commercial Transactions
Forwarding and cargo handling

B. Lessons Learned

9. Summary description of the project/service
Brief Summary

Singapore’s Infocomm Media Development Authority (IMDA) has partnered with a group of companies including ExxonMobil, VLK and Bunkerchain to complete the first paperless cross-border trade with Thailand on its TradeTrust platform using electronic Bills of Lading (eBL).

Home - Bunkerchain

 

a. Objective(s)

The introduction of eBLs has enabled greater efficiency by streamlining and automating existing processes. The benefits include shorter waiting times and reduced costs. This pilot builds on cooperation with industry partners like ExxonMobil to encourage the use of ETRs and facilitate cross-border trade.

b. Business need for the project (background)

Pioneered by IMDA, TradeTrust was designed to address the challenges of paper-based cross- border trades, leveraging international standards and frameworks, utilising blockchain- powered technology to enable digitalisation of transferable documents into ETR. IMDA’s TradeTrust framework harmonises the legal recognition of digital documentations between various jurisdictions which has adopted the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Transferable Records (MLETR).

c. Business process covered*

Exchange of electronic Bill of Lading

d. Overall architecture and functionalities*

- ExxonMobil Asia Pacific shipped liquid chemicals from Singapore to Thailand. - VLK issued an electronic Bill of Lading (eBL) using Bunkerchain, a TradeTrust-enabled digital platform. - The use of Marine Vessel Pass, a joint project between S&P Global Market Intelligence and Bunkerchain, created a Digital Passports for Ships on the eBL ensured that digital identity used in the signing, was onboarded, and verified by S&P Global Market Intelligence. This was tied to their International maritime organization number. - The eBL was subsequently surrendered on the TradeTrust Reference Implementation, demonstrating interoperability across different systems without the need to develop inter-system connectivity protocols such as APIs. It also established the interoperability between digital and paper-based processes. - VLK was supported by their Protection and Indemnity (P&I) Club, on the basis that the P&I liabilities arising from the use of a TradeTrust-issued eBL is equivalent to the liabilities that could have arisen under the use of a paper-based Bill of Lading. - The eBL was legally supported solely by statutory law without the use of any contract law or rulebook. This shipment showed that an eBL issued using the TradeTrust framework can be used in a non-MLETR jurisdiction, such as Thailand.

e. Relevant document/figure
--
10. Documents and data exchanged via the project

Bill of lading

11. Data models/databases, proprietary solutions, hybrid approaches

Tradetrust

12. Main challenges faced during the project
--
13. Lessons learned from the project

This live transaction for consignment of liquid chemical from Singapore to Thailand, leverages on the TradeTrust framework to create an eBL that uses UNCITRAL’s MLETR compliant statutory law framework. It demonstrated that the industry can potentially use eBL even if there is no basis of a contractual legal framework. This can lead to wider adoption of eBL in cross-border trade.

14. Main benefit(s) of the project
Enhanced regulatory compliance*
Transaction Cost savings*
Transaction Time savings
Simplified process
14A. Elaborations/detailed description on benefits gained
--
15. Technical/financial/capacity building/other assistance
--
16. Future plan for expansion of the project
--
17. Other information or relevant references on the project
--
18. Relevant document regarding the project
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C. Relevant Standards

20. Electronic message standard
20A. Electronic message standard supporting the project
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20B. Type of standard for electronic message applied for the project
International standard
21. Technical communication standard
21A. Technical communication standard supporting the project
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21B. Type of technical communication standard applied for the project
--
22. Security-related standards*
22A. Security-related standard supporting the project
--
22B. Type of security-related standard applied for the project
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23. Other Technical Information
23A. Interface developed for data exchange with an internal system
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23B. Other technical implementation information
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