CMA CGM offers new financing solutions for shippers

French carrier CMA CGM has announced its new offering of financing solutions dedicated to importers and exporters, in partnership with global invoice finance platform Incomlend.

Named Shipfin Trade Finance, CMA CGM said it can offer all its customers, importers and exporters a range of simple and rapid financial services to consolidate and support their international growth.

The Shipfin Trade Finance range is based on two initial products: supply chain financing and cargo financing.

With supply chain financing, the solution is dedicated to importers who wish to free up their working capital while stabilising their supplier relations. Some of the benefits include extension of payment deadlines by up to 120 days and optimising payment tracking by finding all documents in one place.

And with cargo financing, the solution is intended for exporters who wish to improve their working capital and ensure the growth of their business. Some of the advantages include maintaining cash position by receiving payment as soon as goods are loaded for up to 90% of the value of the invoice, simplifying multi-currency exchanges and invoice collection process, and optimising tracking of all invoices in one place.

“By launching Shipfin, the CMA CGM Group goes even further in the customer relationship. We draw on more than 40 years of experience acquired at the heart of international trade to offer innovative, simple and relevant solutions beyond shipping to support our customers’ international development,” commented Mathieu Friedberg, senior vice president – commercial agencies network, CMA CGM Group.

Read more: CMA CGM launches first 23,000 teu LNG-powered containership

Posted 22 October 2019

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Lee Hong Liang

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Asia Correspondent Lee Hong Liang has joined Seatrade as its Asia Correspondent. Based in Singapore, he will provide a significant boost to daily coverage of the Asian shipping markets, as well as bring with him an indepth, specialist knowledge of the bunkering markets. Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and the ability to write hard news and feature stories.

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