EuropeFinance and Insurance

CMA CGM debuts trade finance offering

Following Maersk’s lead, France’s CMA CGM is now offering trade finance to customers. The Marseille-headquartered line debuted yesterday Shipfin Trade Finance, its new range of financing services dedicated to importing and exporting, in partnership with Incomlend, a global invoice finance platform.

Customers can benefit from a set of tailor-made solutions ranging from extended payment terms to financing advances. Two initial products are 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 stabilising their supplier relations. Group customers who opt for this solution can extend their payment deadlines up to 120 days as well as optimising payment tracking by finding all their documents in one place

Cargo financing, meanwhile, offers a solution intended for exporters ands allows 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 as well as reducing their customer risk thanks to CMA CGM’s credit insurance coverage.

Maersk has been offering trade finance to its customer base for the past year with ambitions to grow this sector of the business in the coming years.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.


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