Why a Bill of Lading is Traded Multiple Times During a Petroleum Cargo’s Journey

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A bill of lading (B/L) is a document that serves as a receipt and contract between a shipper and carrier.

In the world of international trade, particularly in the petroleum industry, a bill of lading is traded multiple times during a cargo’s journey.

This article will explain why a bill of lading is traded multiple times, the benefits of this process, and the role it plays in the transportation of petroleum cargoes.

What is a Bill of Lading?

A bill of lading is a document that serves as evidence of the existence of a contract of carriage between a shipper and a carrier.

It contains important information about the shipment, including the type and quantity of goods, the date and place of shipment, the name of the shipper and consignee, and the terms of delivery.

In the world of international trade, the bill of lading serves as a crucial document for the transportation and delivery of goods, including petroleum cargoes.

Why is a Bill of Lading Traded Multiple Times?

In the petroleum industry, a bill of lading is traded multiple times because it serves as a transferable document of title.