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Vale signs BIMCO’s ‘25 by 25 Pledge’ to advance iron ore trade digitalisation

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Dry Bulk,

Vale has become one of the first signatories of the ‘25 by 25 Pledge’ that has been launched by BIMCO as part of its ongoing effort to accelerate trade digitalisation and streamline the supply chain process in the bulk sector.

The 25 by 25 Pledge encourages the companies in the bulk sector to move 25% of their annual seaborne trade volume for at least one commodity using electronic bills of lading by 2025.

Erick Tavares, Sales Administration Manager at Vale, said:

“As a leading global iron ore supplier, Vale takes great pride in being among the first to sign the 25 by 25 pledge. Our commitment to innovation and digitalisation is a key part of our strategy, and over the past decade, we have worked tirelessly to digitise our operations both internally and externally, always with a focus on enhancing the customer experience. By signing the pledge, we are reaffirming our dedication to advancing our digitalisation process and inviting our customers and partners to join us on this exciting journey that benefits the entire supply chain.

“Through digitalisation, we have been able to optimise our internal operations and become industry pioneers, while also further enhancing our customer service to better fulfill their demands. Electronic Documents are a safer alternative to paper documents, as they eliminate the risk of misplacement. Additionally, digitalisation can assist in avoiding potential supply disruptions, contributing to a more reliable and efficient value chain.”

Innovation and digitalisation are seen as levers for Vale to reach its ambitions. Internally, the company has set KPIs distributed among several departments to make sure the company increases digitalisation across all operations. Externally, it has been actively promoting the application of electronic bills of lading and blockchain technology, and the first end-to-end digitalised iron ore transaction was completed with Nanjing Iron & Steel Group International Trade Co., Ltd. in September 2020, using blockchain technology.

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Dry cargo shipping news Iron Ore news Dry bulk shipping market