COSCO SHIPPING Advances Blockchain Innovation with Key Milestone in Electronic Bill of Lading Standardization
COSCO SHIPPING Lines Co., Ltd., a subsidiary of China COSCO SHIPPING Corporation, has reached a significant milestone in the development of the ISO 5909 international standard for Distributed Ledger Technology (DLT)-based electronic Bills of Lading (eBL). This achievement underscores the company’s commitment to advancing digital supply chains and promoting green, low-carbon development.
Since 2020, COSCO SHIPPING has actively explored blockchain technology to enhance its competitiveness and improve customer experience. To date, more than 350,000 eBLs have been issued and circulated via the Global Shipping Business Network (GSBN) blockchain platform.
In 2022, the International Organization for Standardization (ISO/TC154) initiated the ISO 5909 project, titled “Business Processes and Data Interchange of DLT-based Electronic Bill of Lading.” COSCO SHIPPING Lines has played a pivotal role, contributing five experts to the standard’s development, two of whom serve as joint project leaders.
The standard focuses on the secure, digital transfer of title for eBLs, ensuring a single source of truth. It also defines essential data elements that enhance traceability, auditability, and control in the distribution process.
Since the project’s inception, the expert team has held 28 meetings and revised key documents over 10 times. They have refined more than 500 data items and 3,000 data units, ensuring robust and practical guidelines.
On Nov. 22, the ISO 5909 standard passed the Committee Stage review, completing the Draft International Standard (DIS) phase. This marks a critical step toward its final publication as an international standard.
COSCO SHIPPING remains dedicated to driving innovation and collaboration in the global shipping industry.
