MARKETS

Australian coal exports go paperless

EXPORT certificates for almost half the coal shipped out of Australia - the world's largest coal exporter - could soon be processed online after CCI Holdings said tests with e-business infrastructure provider bolero.net were successful.

Staff Reporter

CCI, a coal technology and service company, currently certifies 45-50% of all coal exported from Australia.

Managing director of CCI's coal superintending division Denise Gallagher said the company would initially implement bolero.net with BHP Billiton, which is taking part in a bolero.net trading chain involving exports from Australia to Asia.

Export certification entails monitoring of a customer's vessel during loading, production of a draft survey determining the precise coal tonnage required, and subsequent sampling during the loading process.

After analysing samples CCI prepares certificates for dispatch to the shipper's agent prior to being presented for payment.

In international trade, a single transaction can involve up to 20 paper documents, the majority of which typically contain inaccuracies. With the internet system, once a sale has been agreed, all contractual details are agreed online in a secure environment.

"Trials with bolero.net have indicated that contractual negotiations can be concluded within 24 hours following acceptance of sale terms. Formerly, this could take several weeks," CCI said.

"Other benefits include cuts in administrative costs, the standardisation of certificates and enhanced customer satisfaction."

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