CMA CGM launches SHIPFIN TRADE FINANCE, its new range of import and export financing solutions
The CMA CGM Group, a world leader in shipping and logistics, has launched SHIPFIN TRADE FINANCE, its new range of financing services dedicated to importing and exporting, in partnership with Incomlend, a global invoice finance platform, the company said in its release.
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.
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.
About CMA CGM
Led by Rodolphe Saadé, the CMA CGM Group is a world leader in shipping and logistics. Its 528 vessels serve more than 420 ports on five continents around the world and carried nearly 21 million TEUs (twenty-foot equivalent units) in 2018. With CEVA, a world leader in logistics services, CMA CGM handled more than 500,000 tons of airfreight and 1.9 million tons of inland freight in 2018. CMA CGM is constantly innovating to offer customers new maritime, inland and logistics solutions. Present on every continent and in 160 countries through its network of 755 offices and 750 warehouses, the Group employs 110,000 people worldwide, of which 2,400 in Marseille where its head office is located.