Kaunis Iron goes live with Tata Steel Europe on CargoDocs electronic Bills of Lading
Swedish-headquartered mining company, Kaunis Iron, recently went live with CargoDocs, executing its first ever shipment using electronic Bills of Lading (eB/Ls) for iron ore export out of Norway, involving Tata Steel Europe as Importer.
The transaction also marks the first ever use of CargoDocs to execute an iron ore shipment out of the Scandinavian country.
Specifically, the shipment involved a cargo of iron ore concentrate exported from Narvik, Norway to IJmuiden, Netherlands, with Kaunis Iron AB acting as Shipper, Tata Steel IJmuiden BV as Receiver and North Maritime AS as Drafting / Ship Agent.
The original electronic Bill of Lading was drafted and subsequently signed, issued, endorsed and surrendered via CargoDocs in a matter of minutes.
The transaction marks yet another paperless trade milestone in the metals and minerals commodity segment, which continues to globally accelerate and expand digitization efforts as a growing number of metals trade participants adopt CargoDocs eB/Ls for flows across new trade lanes.
Commenting on the recent go-live transaction, Dwaipayan Das, Shipping Operations Manager, Tata Steel Limited, said: “We at Tata believe that digitization is only the way forward for trade and are therefore always seeking ways in which to digitize key aspects of our post-trade processes. essDOCS provides us a secure, quick and reliable platform to exchange documents,” adding that “we congratulate Kaunis Iron, North Maritime and essDOCS for their first electronic B/L executed out of Norway.”