You will be redirected back to your article in seconds
Skip to main content

CMA CGM’s New Shipfin Program Offers Import, Export Finance

The CMA CGM Group, one of the largest container cargo ocean carriers, has launched Shipfin Trade Finance, a new range of financing services dedicated to importing and exporting, in partnership with Incomlend, a global invoice finance platform.

With Shipfin Trade Finance, CMA CGM said it is offering customers a range of “simple, reliable and rapid financial services” to consolidate and support their international growth. Supported by a dedicated team of experts based in the company’s headquarters in Marseilles, France, customers can benefit from a set of tailor-made solutions ranging from extended payment terms to financing advances.

CMA CGN is putting its expertise and presence in 160 countries or areas around the world at the service of its customers’ international development.

The new service includes two initial products, Supply Chain Financing and Cargo Financing, dedicated to importers and exporters, respectively. CMA CGM currently has a fleet of 509 container ships with a capacity of 2.63 million TEU.

The service will be available on the CMA CGM, ANL, APL and CNC platforms and initially available to customers based in India, Dubai, Singapore, China-Hong Kong, Malaysia, Indonesia and the Philippines, before gradually being deployed to other countries or areas.

Mathieu Friedberg, senior vice president of the Commercial Agencies Network at 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.”

Related Stories

With Supply Chain Financing, CMA CGM offers a solution dedicated to importers that want to free up their working capital while stabilizing their supplier relations. Group customers who opt for this solution can 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 and simplify their processes by interfacing their IT systems with the platform.

In Cargo Financing, CMA CGM exporters who wish to improve their working capital and ensure the growth of their business can maintain their cash position by receiving payment for up to 90 percent of the value of the invoice as soon as they load their goods, optimize the tracking of their invoices and customer receivables by finding all their documents in one place.

They can also reduce their customer risk thanks to CMA CGM’s credit insurance coverage, simplify their multi-currency exchanges and invoice collection process, benefit from non-recourse financing and maintain their borrowing power.