IQAX eBL Won the Outstanding Digital Solution Award for Empowering Digital Intelligent Shipping
Rhea-AI Summary
IQAX's eBL platform has won the 2024 Outstanding Digital Solution Award at the 13th Annual China Finance Summit. The platform leverages blockchain technology to enhance security and efficiency in shipping and logistics. Key features include:
- Endorsed by IGP&I, granting legal equivalence to paper bills of lading
- Supports e-presentations and various commercial scenarios
- Over 14,000 registered companies
- Processed over 240,000 original bills of lading
- Partnerships with major Chinese banks
IQAX, owned by Orient Overseas International (HKEX:0316), aims to foster digital transformation in global trade, connecting various stakeholders in the logistics ecosystem.
Positive
- Won the 2024 Outstanding Digital Solution Award at the 13th Annual China Finance Summit
- Received endorsement from the International Group of P&I Clubs (IGP&I)
- Over 14,000 companies registered with the platform
- Processed over 240,000 original bills of lading issued by carriers
- Formed partnerships with major Chinese banks for shipping finance services optimization
Negative
- None.
News Market Reaction
On the day this news was published, OROVY gained 3.94%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The CFS Finance Summit is a major event curated by leading financial and mass media organizations in
The IQAX eBL platform prioritizes the security of bills of lading by actively introducing technological innovations into the shipping and logistics industry. Leveraging the distributed, swift transmission, immutable and traceable nature of blockchain technology, it mitigates fraud and loss risks inherent to traditional paper bills of lading. In 2022, IQAX eBL received endorsement from the International Group of P&I Clubs (IGP&I), confirming that electronic bills of lading on the platform have the equivalent legal standing to paper bills of lading.
A user-friendly and efficient experience is another key advantage provided by the IQAX eBL platform. It allows relevant trade parties to conduct e-presentations while transferring eBLs. This suits various commercial scenarios and supports bill-of-lading transfers under different payment methods.
Since launching, the IQAX eBL platform has significantly improved bill-of-lading circulation efficiency for shipping supply chain users. Not only has it reduced the processing time and cost, but it has also enhanced transportation transparency and trust among trading parties by sharing important information such as the status updates of bills of lading and container movements with transport stakeholders. To date, more than 14,000 companies have registered with the platform. Many industry-leading shipping companies such as COSCO SHIPPING, OOCL and Hapag-Lloyd are linked to the IQAX eBL platform, letting users easily manage bills of lading from multiple carriers.
IQAX eBL has processed over 240,000 original bills of lading issued by carriers. It has formed long-term partnerships with major Chinese banks, including Bank of China, Bank of China (
About IQAX
IQAX Limited is a global information technology company that provides intelligent 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, consignees, 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?
How many companies have registered with the IQAX eBL platform?
What technology does IQAX eBL use to enhance security?
How many original bills of lading has IQAX eBL processed?
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