Tata Steel conducted its first paperless import transaction under a letter of credit for coal imports from Queensland, Australia to Dhamra Port in Odisha.
The transaction involved seamless coordination between Tata Steel India, ICICI Bank, TS Global Procurement, Standard Chartered Bank (Singapore), and the digital platform provider ICE Digital Trade’s eBL solution.
The digital processes replaced physical courier services and paperwork, speeding up documentation, reducing risks, and supporting Tata Steel’s digitization and environmental sustainability efforts.
Tata Steel aims to build an environmentally responsible and efficient supply chain by deploying emission-efficient vessels and utilizing biofuels and LNG-powered ships for import shipments.