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19 DECEMBER 2019 AL CIRCLE

Rio Tinto and Hydro complete the first ever paperless trade in the alumina via CargoDocs solution

EDITED BY : BEETHIKA BISWAS 1MINS READ

Rio Tinto and Hydro recently executed the first ever paperless trade in the alumina commodity segment.  Both the companies used the CargoDocs solution from essDOCS for the transaction.  This also marks the first ever paperless trade solution for alumina shipment by any company and also the first use of the solution by Rio Tinto, Hydro and ship-owner IVS Bulk. 

alumina

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The transaction was done on a cargo of bulk alumina transported from Australia to China. While Rio Tinto Aluminium Limited was the Supplier, Hydro Aluminium International S.A and Hydro Aluminium (Beijing) Ltd were the Cargo Receivers. 

CargoDocs solution handled all the supporting documents in the transaction including electronic Bill of Lading (eB/L) and also the key actions like drafting, collaborative review, sign, issue, transfer and surrender. 

The preparatory steps were completed in just two weeks as a result of the high level of engagement from all parties involved. It was one of fastest end to end go-lives for a shipment in a new trade lane /commodity segment despite all the concerned parties being new to such a paperless transaction.

DocEx network is the largest of its kind in the maritime shipping & trade sector operating across 77 countries.


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EDITED BY : BEETHIKA BISWAS 1MINS READ

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