The holy grail of common digital standards may not be possible in shipping — but that should not mean extra costs.

That is the view of Jacco de Jong, global head of sales at trade finance digitisation company Bolero International.

He said digitisation is transforming world trade, replacing key paper documents such as bills of lading.

"Key to this transformation is ensuring that we have common standards in electronic documentation and effective interoperability between IT systems," De Jong said.