FIT Alliance's 2024 eBL survey shows steady rise of electronic bill of lading adoption globally; collaboration across trade supply chain could unlock further gains

Amsterdam, 12 December 2024 - The FIT Alliance, co-founded by BIMCO, DCSA, FIATA, ICC, and SWIFT, today announced the results of its 2024 survey on electronic Bills of Lading (eBL). Conducted in partnership with the HKUST Li & Fung Supply Chain Institute and the Boston Consulting Group (BCG), the survey shows a steady rise in eBL adoption and underlines the importance of stakeholder collaboration in driving further progress.

Strong momentum in eBL Adoption

In the two years since the first eBL survey was undertaken in summer 2022, the proportion of users adoption eBL has risen steadily. The share of dual-format users (those using both paper and electronic bills of lading) has surged from 28.0% in 2022 to 41.7% in 2024. As a result, the overall adoption rate-encompassing users of eBLs exclusively or alongside paper BLs-has risen from 33.0% to 49.2%.

In other words, nearly half of respondents now incorporate eBLs in some capacity, and 74.7% of paper-only users plan to transition to eBLs, up from 58.0% in 2022. Within this group, 32.2% intend to adopt within the next two years, compared to 22.0% in 2022.

eBLs: a catalyst for digital transformation

The survey reaffirms that eBLs are widely seen as a cornerstone of trade digitalization. 94.0% of respondents believe eBLs will unlock broader digital transformation, up from 86.0% in 2022. Respondents highlighted faster processing (94.2%), cost savings through process efficiencies (89.8%), improved data accuracy (87.3%), and enhanced security (89.2%) as key advantages. These benefits illustrate eBLs' potential to modernize operations and streamline global trade.

More collaboration needed to bring down barriers to adoption

Despite these gains, the survey also highlights challenges that continue to hinder eBL adoption. Technological and platform-related issues remain the most cited barrier, identified by 71.2% of respondents. Stakeholder readiness follows closely, with 61.7% emphasizing the need for better preparation and collaboration among supply chain participants. Legal acceptance, while improving, is still flagged by 42.6% of respondents as a significant obstacle, though this marks progress from 55.0% in 2022.

Diverging trends across geographies, sectors, firm sizes

The survey reveals notable disparities in eBL adoption by geography, sector and firm size.

Adoption amongst respondents in Asia is markedly higher than other regions, with 60.2% compared to 50% in Middle East and followed closely by Europe at 45%.

The banking sector, despite having high awareness levels (82.5%), shows low adoption (21.1%), reflecting an apparent hesitancy or difficulty in implementation. Freight forwarders face challenges on both fronts, with below-average awareness (64.7%) and adoption (29.4%). In contrast, terminals and owner/carriers across bulk and container sectors lead the pack, boasting adoption rates above 73.0%.

Larger firms-particularly those with more than 250 employees-are adopting eBLs at higher rates. However, the data confirms that industry type remains the most significant factor influencing eBL uptake.

A Call to Action

The FIT Alliance continues to champion standardized and interoperable solutions to address the technical, legal, and organizational barriers highlighted in the survey. The Alliance emphasizes that achieving seamless digital trade requires all stakeholders-across industries and geographies-to align and prepare for eBL implementation.

"While the industry has made notable strides in eBL adoption, it's clear that greater coordination and capacity building are needed to enable stakeholders across the supply chain to operate seamlessly with eBLs," the FIT Alliance stated. "These findings will guide our efforts in 2025 as we work to foster a truly inclusive and interoperable digital trade ecosystem."

To support businesses on this journey, the FIT Alliance has developed a comprehensive Guide to eBL Adoption. This resource provides actionable insights to help stakeholders navigate the transition to eBLs, address key challenges, and unlock their full potential.

Download FIT Alliance eBL Survey Report here!

About the FIT Alliance

Established in February 2022, the FIT Alliance ("Future International Trade") brings together BIMCO, DCSA, FIATA, ICC, and Swift to drive the adoption of a universal, standards-based electronic bill of lading (eBL) across all sectors of the shipping industry. The Alliance focuses on raising awareness about the benefits of digital trade, promoting interoperable data standards, and harmonizing legislative conditions across jurisdictions.

The FIT Alliance aims to facilitate eBL acceptance and adoption among shippers, consignees, carriers, regulators, solution providers, banks, and insurers, fostering seamless communication and collaboration among all stakeholders in international trade.

Quotes from FIT Alliance founding members:

"BIMCO's campaign committing four of the world's largest dry bulk shippers to carry 25% of their annual iron ore shipments on eBLs by 2025 has exceeded our expectations by reaching its target early. The four mining companies achieved an aggregate of 25.1% by mid-2024. This is a shining and inspiring example to other companies looking to adopt eBLs. It proves it can be done successfully now - no need to wait."

Grant Hunter, Chief Digital Officer, BIMCO

"We are proud to see that the ongoing drive for eBL adoption is yielding positive results. We have been working with our valued members as well as the broader global community of shippers, governments, freight forwarders, carriers, and operational partners to drive widespread recognition of the value of standardisation across the maritime industry. There is certainly a strong appetite for change and the benefits of adoption are becoming increasingly clear. Our shared progress also highlights the importance of interoperability and collaboration, core principles that DCSA has championed to enable seamless digital adoption. While the journey to full adoption continues, it is clear that the industry is united in its drive toward a more secure, efficient, and sustainable future for global trade."

Thomas Bagge, Chief Executive Officer, Digital Container Shipping Association (DCSA)

"Freight forwarders play a pivotal role in advancing the digital transformation of global trade. The rising adoption of eBLs is a testament to the sector's willingness to embrace innovation, with the FIATA eBL standing out as a powerful solution tailored to the needs of digital-savvy freight forwarders. However, further collaboration across the supply chain remains essential to overcome lingering barriers. We are committed to equipping FIATA Members with the tools and knowledge they need to navigate this transition and help create a truly seamless, digital future for the supply chain.

Stéphane Graber, Director General, FIATA

"From conversations with businesses on the ground, we know that eBL adoption has been on a clear upward trajectory, and now the data validates it. By addressing challenges in standards, digital trust, and legal reform, the digital transformation of trade becomes inevitable. The future is clear-not just for eBL, but for the digitalisation of financing and commercial processes around it."

Pamela Mar, Managing Director, ICC Digital Standards Initiative

"At Swift, we are focused on advancing the digital transformation by enabling secure, interoperable solutions underpinned by global standards. Collaborations such as the one with FIT alliance will ensure that we continue to join forces to drive innovation and increase awareness in the industry. Swift has tested a few interoperability models to support the broader digital agenda, enhance efficiency and transparency in the eco-system."

Avanee Gokhale, Head of Trade Strategy, Swift

About FIATA
FIATA International Federation of Freight Forwarders Associations is a non-governmental, membership-based organisation representing freight forwarders in some 150 territories. FIATA's membership is composed of 113 Associations Members and more than 6,000 Individual Members, overall representing an industry of 40,000 freight forwarding and logistics firms worldwide. Based in Geneva, FIATA is 'the global voice of freight logistics'.

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