First use of Bolero solution by Swire Shipping, working in partnership with BSM and Cargill Grain Australia, opens new routes for Bolero’s safer, smarter, faster trade documentation digitisation
London, 22nd October 2018: Swire Shipping, the leading provider of managed liner services, has achieved a significant first by accelerating a shipment of containerised grain from Australia to New Zealand using electronic bills of lading from Bolero International, the trade finance digitisation expert.
The transaction was the first use of Bolero’s electronic bills of lading (eBL) by Swire Shipping and the first on the Australia-New Zealand route and was completed through collaboration with BSM, the expert that specialises in the optimisation of trade execution business process including communication, compliance and document management.
The shipment conducted under open account, from Sydney and Newcastle to Tauranga, was undertaken on behalf of Cargill Australia, a major provider of grain, oilseeds and other agricultural commodities. Cargill Australia employs BSM for trade execution and Bolero for multi-party electronic document presentation (ePresentation). This solution combines BSM’s comprehensive, simple-to-use trade execution solutions and Bolero’s legal framework, eBLs and other digitised trade documents to deliver major savings in time and costs for Cargill Australia.
Following the success of this pioneering New Zealand shipment, Swire Shipping and Cargill Australia are now deploying eBLs to accelerate shipments of grain to the Solomon Islands from Australia. The adoption of paperless trade documents not only delivers major advantages in terms of speed, accuracy and security, but places companies at the forefront of a major trend as important trade and regulatory documents such as phytosanitary certificates are digitised.
Jeremy Sutton, General Manager, Swire Shipping, said: “Swire Shipping is wholly committed to bringing customers the highest standards of service through sustainable innovation. Our successful use of Bolero’s electronic bills of lading to support a grain shipment from Australia to New Zealand is a significant first for us and for the region.
“We have been impressed with the substantial gains in speed of execution, simplicity of use and security Bolero has delivered for our customer and our use of the solution is set to expand as a result. We see this as the first of many transactions on the Bolero platform.”
Robert Flemming, Managing Director, BSM said: “As a business dedicated to smoothing workflows and super-charging the efficiency of trade, we understand the benefits of using Bolero’s eBLs, which is why we have integrated their solution in our own offering. The use of Bolero eBLs to facilitate Cargill’s grain shipment from Australia to New Zealand has demonstrated all the advantages of digitisation in terms of speed and cost. Our partnership with Bolero is certain to go from strength to strength as eBLs are deployed on ever more routes.”
“The speed and efficiency generated by the Bolero solution allows for the fast release of our cargo and gives our customers the best level of service possible,” said David Werner, Trade Execution Manager, Cargill Australia. “We are pleased to have worked with Bolero on this project and our use of digitised trade documentation is certain to expand to other routes in line with our determination to bring customers the real benefits of digital innovation while upholding the integrity of our documentation.”
Ian Kerr, CEO, Bolero International said: “It’s gratifying and exciting to see how the Bolero solution is fast gaining acceptance among the biggest names in liner services, agricultural exports and supply chain innovation. All understand how electronic trade documents are safer, smarter and faster than their paper predecessors.
“The partnerships we have around the globe will flourish as Bolero’s digitisation solution expands to cover more routes. In every market, exporters, importers and shipping lines understand that paper belongs to the past and that digitisation is driving the efficiency of trade into the future.”
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About Swire Shipping (www.swireshipping.com)
Swire Shipping is the liner shipping division of The China Navigation Company (CNCo) and operates multiple liner trades in Australia, New Zealand, Asia, North America and the nations of the South Pacific, in addition to providing services to India, the Middle East and Europe. Swire Shipping’s network of services operates a versatile fleet of multipurpose ships capable of carrying a wide range of cargoes including containerised, refrigerated, project, breakbulk and heavylift cargoes.
About BSM
BSM provides technical and commercial consulting and cloud based (SaaS) software solutions for international trade and supply chain objectives. Its services include the health checks on existing processes plus tailored solutions around business process and systems support to optimise unique GTM requirements. BSM delivers functionally rich and nimble global trade management (GTM) solutions to companies of all sizes.
About Cargill
Cargill’s 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive.
We combine 153 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture
About Bolero International (www.bolero.net)
Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a strong reputation and market leadership position in driving the digitisation of global trade.
Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitising trade processes and transactions, providing greater visibility, transparency and control, Bolero is making trade safer, smarter and faster.
For more information, please contact:
Joanna Elliott
The Whiteoaks Consultancy
Tel: + 44 (0) 1252 727313