As a globally renowned shipping enterprise, China COSCO SHIPPING Corporation, centering on the vision of "Commitment to High-Quality Growth, Building a World-Class Global Shipping Technology Enterprise", actively focuses on continuously exerting efforts in the two tracks of digital supply chains and green and low-carbon development, continuously exploring and applying cutting-edge technologies to enhance its core competitiveness. COSCO SHIPPING Lines Co., Ltd. has been engaged in the research and application of blockchain eBL since 2020. Adhering to the customer-centered concept, it combines digital technology with customer needs and continuously promotes the application practice of blockchain eBL. As of the time of sending this press release, more than 350,000 eBLs issued and circulated on the GSBN blockchain platform.

As a globally renowned shipping enterprise, China COSCO SHIPPING Corporation, centering on the vision of "Commitment to High-Quality Growth, Building a World-Class Global Shipping Technology Enterprise", actively focuses on continuously exerting efforts in the two tracks of digital supply chains and green and low-carbon development, continuously exploring and applying cutting-edge technologies to enhance its core competitiveness. COSCO SHIPPING Lines Co., Ltd. has been engaged in the research and application of blockchain eBL since 2020. Adhering to the customer-centered concept, it combines digital technology with customer needs and continuously promotes the application practice of blockchain eBL. As of the time of sending this press release, more than 350,000 eBLs issued and circulated on the GSBN blockchain platform.

In 2022, the International Organization for Standardization (ISO/TC154) voted to officially establish the draft standard for “Business processes and data interchange of DLT based electronic Bill of Lading”. The standard project number is ISO 5909.  Experts from the United Nations Economic Commission for Europe (UNECE) and ISO/TC 154 JWG9, including five experts from COSCO SHIPPING Lines, are involved in the standard's development. Two of them have been recommended as joint project leaders to guide the standard's formulation.

This standard primarily addresses the digital transfer of title for documents on a secure platform. It also defines optional data elements crucial for Distributed Ledger Technology (DLT) that can support the eBL business process. These elements enhance the integrity of the eBL by ensuring it remains the single source of truth, while also making the distribution process fully controllable, traceable, and auditable.

Since 2024, experts in the project team have held 28 online and offline meetings, actively sharing and outputting practical experience and professional knowledge. They have revised project documents more than 10 times and discussed and improved standard formulation for more than 500 data items and more than 3,000 data units. With collective efforts and the support of the TC154 committee and the JWG9 working group, a milestone progress has been successfully reached.

On November 22, ISO 5909 "Business process and data exchange of DLT based electronic Bill of Lading" passed the Committee Stage review, completing the fifth stage Enquiry Stage (DIS: Draft International Standard) registration, marking an important milestone for this standardization project. Subsequently, ISO 5909 will complete the sixth stage Final Draft International Standard based on the feedback collected during the fifth stage, forming the final published international standard.