CMA CGM Launches New Range Of Import And Export Financing Solutions

The CMA CGM Group, a world leader in shipping and logistics, is pleased to announce the launch of SHIPFIN TRADE FINANCE, its new range of financing services dedicated to importing and exporting, in partnership with Incomlend, a global invoice finance platform.

An innovative offer to support the international development of the CMA CGM Group’s customers

Committed to supporting its customers and their development, the CMA CGM Group now wishes to support their business through financing solutions that are tailored to their needs. The Group is thus putting its expertise and presence in 160 countries around the world at the service of its customers’ international development.

Representation Image – Credits: cma-cgm.com

With SHIPFIN TRADE FINANCE, CMA CGM offers all its customers, importers and exporters alike, a range of simple, reliable and rapid financial services to consolidate and support their international growth. Thanks to a dedicated team of experts based in the Group’s headquarters in Marseilles, customers can benefit from a set of tailor-made solutions ranging from extended payment terms to financing advances.

Two complementary solutions: SUPPLY CHAIN FINANCING and CARGO FINANCING

The SHIPFIN TRADE FINANCE range is based on two initial products dedicated respectively to importing and exporting customers: SUPPLY CHAIN FINANCING and CARGO FINANCING. They will be available on the CMA CGM, ANL, APL and CNC platforms and initially available to customers based in India, Dubai, Singapore, Hong Kong, Malaysia, Indonesia and the Philippines before gradually being deployed to other countries.

With SUPPLY CHAIN FINANCING, CMA CGM offers a solution dedicated to importers who wish to free up their working capital while stabilizing their supplier relations. Group customers who opt for this solution can thus:

• extend their payment deadlines up to 120 days;
• strengthen their supplier relations by improving their cash flow;
• optimize payment tracking by finding all their documents in one place;
• master their compliance risk thanks to the KYC (Know Your Customer) assessment achieved by their suppliers;
• simplify their processes by interfacing their IT systems with the platform (EDI/API).

In addition, thanks to CARGO FINANCING, CMA CGM offers a solution intended for exporters who wish to improve their working capital and ensure the growth of their business, thus allowing them to:

• maintain their cash position by receiving payment as soon as they load their goods, for up to 90% of the value of the invoice;
• optimize the tracking of their invoices and customer receivables by finding all their documents in one place;
• reduce their customer risk thanks to CMA CGM’s credit insurance coverage;
• simplify their multi-currency exchanges (4 currencies available);
• simplify their invoice collection process;
• benefit from non-recourse financing and maintain their borrowing power.

On the occasion of the launch of SHIPFIN TRADE FINANCE, Mathieu Friedberg, Senior Vice President – Commercial Agencies Network, CMA CGM Group, said:

“By launching SHIPFIN, the CMA CGM Group goes even further in the customer relationship. We draw on our more than 40 years’ experience acquired at the heart of international trade to offer innovative, simple and relevant solutions beyond shipping to support our customers’ international development.

Reference: cma-cgm.com

Source: Maritime Shipping News