IQAX eBL Wins Prestigious APTFF Trade Facilitation Innovation Award 2024

Rhea-AI Summary

IQAX wins the prestigious APTFF Trade Facilitation Innovation Award 2024 for its IQAX eBL solution, showcasing leadership in digital trade solutions. The award recognizes the solution's ability to streamline procedures, leverage blockchain technology for electronic B/L transfers, and promote sustainability and efficiency in global supply chains. IQAX eBL has facilitated over 160,000 eBLs, delivering cost savings, faster cargo releases, reduced delays, enhanced transparency, and traceability. The solution's collaboration with stakeholders globally supports the United Nations' 2030 Sustainable Development Agenda by enabling responsible and sustainable global supply chains.

Positive

• IQAX eBL wins the APTFF Trade Facilitation Innovation Award 2024 for its digital trade solution.
• The solution streamlines procedures, leverages blockchain technology, and promotes sustainability in global supply chains.
• Over 160,000 eBLs have been processed, leading to cost savings, faster cargo releases, reduced delays, and enhanced transparency.
• Collaboration with stakeholders globally supports the United Nations' 2030 Sustainable Development Agenda.
• IQAX eBL eliminates the need for physical B/Ls, allowing instant title transfers online.
• The solution has been used by 9,600+ registered companies in over 60 countries.
• Digitalizing documentation reduces paper waste and minimizes the environmental impact of trade.
• Lowering transport needs through eBL also helps address climate change by cutting carbon emissions.

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• None.

HONG KONG, April 18, 2024 /PRNewswire/ -- IQAX is pleased to announce that its IQAX eBL solution has won the APTFF Trade Facilitation Innovation Award for 2024. As a leader in digital trade solutions, IQAX aims to empower customers with cutting-edge tools to facilitate the digitalization of their bills of lading (B/L) processes.

Organized by the Asian Development Bank (ADB) and United Nations Economic and Social Commission for Asia and the Pacific, the Asia-Pacific Trade Facilitation Forum (APTFF) Awards spotlight innovative trade facilitation measures that promote sustainability and efficiency in global supply chains.

IQAX eBL directly addresses the criteria of streamlining procedures and leveraging blockchain technology for electronic B/L transfers and the e-presentation of trading documents. This secure solution eliminates the need to courier physical B/Ls, allowing instant title transfers online. It can generate significant benefits such as faster cargo releases, reduced risk of delays, as well as enhanced transparency and traceability throughout the supply chain.

The APTFF Award exemplifies how IQAX eBL can be leveraged to lower trade costs. By removing expenses associated with printing, couriering, potential charges from delayed cargo arrival, and errors, IQAX eBL delivers tangible cost savings. The solution has been used with more than 160,000 eBLs to date, demonstrating its impact.

In developing IQAX eBL, IQAX collaborated extensively to design a system that meets everyone's needs. Shippers, carriers, banks and all other stakeholders can now work together seamlessly on a single online platform, accelerating the flow of goods across borders. With 9,600+ registered companies in over 60 countries, IQAX eBL shows relevance and applicability on a global scale.

IQAX eBL supports the United Nations' 2030 Sustainable Development Agenda of enabling more responsible and sustainable global supply chains. Digitalizing documentation reduces paper waste and minimizes the environmental impact of trade. Lowering transport needs through eBL also cuts carbon emissions to help address climate change.

About IQAX 

IQAX is a global information technology company that provides intelligent and digital transformation solutions using blockchain for enterprises in the logistics ecosystem. Backed by a strong heritage in container shipping, IQAX strives to foster a harmonized and connected global trade environment. As an industry leader, IQAX connects with shippers, freight forwarders, carriers, terminals, and financial institutions, and empowers them with digitized solutions to meet emerging business challenges throughout the supply chain. IQAX is an independent technology company wholly owned by Orient Overseas International Ltd. (HKEX:0316), which is in turn part of Orient Overseas Container Line (OOCL), one of the largest integrated international transport and logistics companies in the world. 

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SOURCE IQAX Limited

FAQ

What award did IQAX eBL win in 2024?

IQAX eBL won the APTFF Trade Facilitation Innovation Award for 2024.

How does IQAX eBL streamline procedures?

IQAX eBL streamlines procedures by leveraging blockchain technology for electronic B/L transfers and e-presentation of trading documents.

What benefits does IQAX eBL offer?

IQAX eBL offers benefits such as faster cargo releases, reduced risk of delays, enhanced transparency, and traceability throughout the supply chain.

How many eBLs has IQAX eBL processed?

IQAX eBL has processed over 160,000 eBLs to date.

How does IQAX eBL support the United Nations' 2030 Sustainable Development Agenda?

IQAX eBL supports the United Nations' 2030 Sustainable Development Agenda by enabling responsible and sustainable global supply chains through digitalization.