At the ICC United Kingdom and C4DTI, Trade Finance Global’s (TFG) Deepesh Patel spoke with Nick Davies, Director of the ICC’s United Kingdom C4DTI, to learn more about their role in accelerating the adoption of digital trade.
Category: Shipping
Singapore completes first cross-border electronic transferable record trade
Singapore has taken another step forward in being a regional leader in trade digitisation as they continue to develop programmes and initiatives to support this transition. The Infocomm Media Development Authority (IMDA) recently announced the completion of a live shipment to Thailand through Singapore’s TradeTrust framework, using an Electronic Transferable Record (ETR), the equivalent document… Continue reading Singapore completes first cross-border electronic transferable record trade
Buy or build? Accelerating digital transformation in trade finance
Deepesh Patel, editor at Trade Finance Global, spoke to Enno-Burghard Weitzel, SVP Strategy, Digitization & Business Development at Surecomp, in a webinar entitled “Taking trade finance digital – buy vs build.”
Unmasking trade finance fraud: The intricate web of balance sheets, fragmented information, and human biases
Lenders across the world are grappling with the trade finance asset class. In Singapore, a string of legal cases has left banks facing the prospect of staggering losses with the nature of the trade finance asset class, as secure and self-liquidating, facing an existential crisis.
South Korea adds Japan to trade “white list”, mending trade relations
South Korea has formally restored Japan to its list of countries it gives preferential treatment in trade, three years after the neighbours downgraded each other’s trade status amid a diplomatic row driven by historical grievances. In announcing the move through a government gazette on Monday, South Korea’s Ministry of Trade, Industry and Energy also said… Continue reading South Korea adds Japan to trade “white list”, mending trade relations
Four commodity risks for the rest of 2023
As the commodity trading industry looks back on Q1 of 2023, it is evident that the first three months of the year have been marked by a number of significant events.
Financial crime in MENA: three ways to build resiliency
Trade is critical in advancing economies, including those in the MENA region. At the same time, trade finance presents unique opportunities for criminal exploitation, also referred to as Trade Based Financial Crime (TBFC).
PODCAST | Marshall Islands to Liberia, monitoring 68,218 vessels raises alarms for trade financiers
Saying the world’s oceans are vast is an understatement. If one were to sail from Cape Town to Tristan da Cunha, the world’s most remote inhabited island, located over 2,000 kilometres to the nearest land, the voyage would take longer than it took Apollo 11 to reach the moon.
5 tips to help avoid metal frauds
Fraud has been a prevalent issue in commodity trading and financing over the past few years, most recently in relation to cargoes of metals.
VIDEO | SACE: increasing Italian exports, the push strategy and greening supply chains
To put it lightly, the past few years have been a rollercoaster ride for trade finance. Recent challenges have pushed the industry to the boundaries, which has created significant angst for many. However, this struggle also has a silver lining.
Lloyds Bank releases supply chain resilience report
At the end of March, Lloyds Bank released its latest report exploring supply chain resiliency across the global market. The report comes as internationally operating firms continue to face the multitude of challenges that have become the new normal. Amidst these lingering impacts of the pandemic and ensuing supply chain disruptions, the Lloyds report seeks… Continue reading Lloyds Bank releases supply chain resilience report
ICC DSI: 7 key trade documents for digitalisation
The 52-page ICC DSI report identifies and defines the key data elements held within each of the seven identified key trade documents: namely, the certificate of origin, customs declaration, packing list, bill of lading, commercial invoice, warehouse receipt, and insurance certificate.
Global Maritime Forum – Four insights for sustainable shipping
A new insight brief series from the Global Maritime Forum identifies four actions that maritime and shipping industries can take now to support shipping’s transition to a sustainable and resilient zero-emission future. Eman Abdalla, global operations & supply chain director at Cargill Ocean Transportation, a dry and bulk cargo transporting company said, “We need to… Continue reading Global Maritime Forum – Four insights for sustainable shipping
UK and Albania to strengthen trade ties
Looking to further international trade, Tim Reid, CEO of UK Export Finance (UKEF) met with Albanian Prime Minister Edi Rama, and Finance Minister Deline Ibrahimaj to finalise a £4 billion trade deal. £4 billion marks a doubling of the previously published market risk appetite for UKEF support for Albania and signals the huge opportunity available… Continue reading UK and Albania to strengthen trade ties
DCSA member carriers’ commitment to eBLs will advance trade digitalisation
Nine ocean carriers recently committed to 100% adoption of an electronic bill of lading (eBL) by 2030, with a waypoint goal of 50% adoption within five years. It is a significant step along the road to digitalisation, one that heralds a future for container trade processes that are simpler, more sustainable and more resilient.