Electronic bill(s) of lading: A practical "tool" or not?

Abstract

This thesis is focused on the use of Electronic Bill(s) of Lading in the maritime industry. The idea of a paperless trade is not new; it goes back to the 1980s. Many projects tried to provide solutions for the electronic commerce but how did the shipping market react? Are we or will be ready eventually to leave behind the cost, risk and bureaucracy of the traditional trade or not? Has the legal framework and the technology changed enough to allow the shipping market to adopt for good the electronic Bills of Lading? The significance of the Bills of Lading and the developments of the dematerialization of the traditional, paper Bills of Lading towards the era of the Electronic commerce is displayed in the introduction. The problems of the paper Bills of Lading and the requirements for the validity and proper performance of the Electronic Bills of Lading will be analyzed. A retrospection to the first steps for the use of the Electronic Bills of Lading up to the latest developments in this scheme will be provided further below. The four key factors- Legal framework, Operational nature, Network of users and technology- in the use of Electronic Bills of Lading (EBL) will be discussed in detail in order to ascertain all those issues that keep alive the use of traditional, paper Bills of Lading instead if the Electronic type. At the second part, statistical data from the shipping industry will be exposed. The method is based on a survey, which was distributed electronically in a worldwide sample of key players in the shipping market, which make use of Bills of Lading. Interviews, opinions and comments from Ship-owners and traders will be also included for better understanding of the benefits and the drawbacks of Electronic Bills of Lading. Findings from this research will be reported in last part of this study. Critical review, estimations and future perspectives in the use of Electronic Bills of Lading will follow. Finally, brief summary of the issues and the key findings will be included in the conclusion, trying to present an answer to the question whether the Electronic Bills of Lading are/or will be a practical tool for the shipping industry or not.