Hong Kong, 23 September 2025 – Global Shipping Business Network (GSBN), a neutral, not-for-profit consortium enabling paperless, accessible and sustainable global trade, announced the successful completion of the first “triple-document” integrated pledge financing for Technically Specified Rubber 20 (TSR 20) in Shanghai’s Lin-gang Special Area. This marks a significant milestone in digital trade in Asia since the passing of the Model Law on Electronic Transferable Records (MLETR) in Lin-gang in 2024.

 

This achievement was made possible through the seamless integration of e-Delivery Order (eDO), e-Bill of Lading (eBL) and e-Warehouse Receipt (eW/R) process between GSBN’s blockchain-enabled platform, International Container Transportation Service Platform (T-MaaS) in Shanghai, China Materials Storage and Transportation (CMST) Electronic Warehouse Receipt Management Center and National Commodity Warehouse Receipt Registration Center (NCWR). This integration facilitated the seamless transition of cargo documents — from eDO and eBL on blockchain to eW/R registered in the Shanghai Futures Exchange Over-the-Counter Platform (SHFE OTC)’s standard warrant management system. After being registered through NCWR and being approved by Yangshan Free Trade Zone Customs, it further facilitated seamless pledge financing of RMB 2 million at the Bank of Jiangsu through the SHFE OTC, enabled higher credit lines and increased financial support, paving the way for new scenarios in the digital transformation of shipping and trade.

 

The transformation significantly elevated the efficiency and security of document handling processes. Beyond expediting document procedures, businesses received increased access to higher credit limits and financial backing from banks within shorter timeframes. Zhai Hongkai, Director of Shandong Energy Intelligent (Shanghai) Industrial Development co., Ltd shared, “ The integration of the three documents (eDO, eBL, eW/B) into one single process, overall, leads to time savings and cost reductions. It can approximately lower our costs by 30%.”

 

Leveraging blockchain technology ensures complete document authenticity, uniqueness, and immutable traceability, with the GSBN and IQAX eBL platform receiving formal recognition from the International Group of P&I Clubs (IG P&I).

 

Bertrand Chen, CEO at GSBN, said, “This pilot exemplifies the tangible value GSBN brings to our customers, as well as greater benefits to other industry stakeholders such as financial institutions. This milestone underscores how such innovations create substantial value for the industry, and showcases the transformative power of embracing a digital future. GSBN is committed to assisting our partners globally in replicating this digital leap, ensuring they stay competitive in the evolving landscape.”

 

Building on the momentum of passing the MLETR last year, the Lin-gang Special Area remains at the forefront of driving digital transformation in maritime trade. Through its endorsement of the “eBL+” model, the Area is revolutionising maritime commerce by embracing paperless, automated procedures that amplify efficiency, foster trust via transparent processes and privacy safeguards, and cultivate collaboration through standardised cross-border practices and interconnected systems. This recent implementation not only serves as a pivotal catalyst in cost reduction within shipping logistics and enhancing the financial landscape for businesses but also solidifies Asia’s status as a forerunner in eBL adoption.

 

The partnership between GSBN and the Lin-gang Special Area establishes a replicable blueprint, proving that the combination of progressive regulation and neutral digital infrastructure can reshape commerce, enhance trust, and drive shared value for all participants.

 

ENDS

 

About GSBN

The Global Shipping Business Network (GSBN) is a neutral, not-for-profit consortium whose mission is to enable paperless, accessible and sustainable growth in global trade with its data infrastructure and ecosystem of partners. GSBN facilitates trusted collaboration between participants across the shipping industry to enable greater efficiencies, and paperless trade as well as supporting the shipping industry’s decarbonisation transition.

 

GSBN’s ecosystem includes shipping lines, terminals, banks, application developers and other consortia. The entire network accounts for more than half of the containers handled in the world. www.gsbn.trade 

 

Press Contacts Edelman for GSBN Winnie Li

+852 2837 4758 gsbnglobal@edelman.com