Singapore-based DBS Bank Limited has collaborated with the Maritime and Port Authority of Singapore (MPA), Japan-based Ocean Network Express Holdings Limited (ONE), Ascenz, and TFG Marine, a unit of Trafigura Group, has completed Singapore’s first live bunker delivery financing transaction. The transaction was conducted through an electronic bunker delivery note (BDN).
There are also plans to combine the use of digital BDNs with SGTraDex in the following phase of development. SGTraDex is a common data infrastructure that was introduced in July 2021. The platform was introduced by public and business sector partners led by the Alliance for Action (AfA) on Supply Chain Digitalisation to promote reliable and secure data sharing across supply chains.