CMA CGM debuts its new range of financing services

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The French container transportation and shipping company CMA CGM is now offering trade finance to customers. Developed in partnership with Incomlend, a global invoice finance platform, Shipfin Trade Finance is a new range of financing services dedicated to importing and exporting.

Customers can benefit from a set of tailor-made solutions ranging from extended payment terms to financing advances. The two initial products are supply chain financing and cargo financing, which 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 delivered to other countries.

By means of the supply chain financing, CMA CGM offers a dedicated solution to importers who wish to free up their working capital while stabilizing their supplier relations. The customers who go in for this solution can extend their payment deadlines up to 120 days as well as optimizing payment tracking by keeping all their documents in one place.

Cargo financing offers a solution that is focused on exporters and 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 by means of CMA CGM’s credit insurance coverage.

Maersk has been offering trade finance to its customer base for the past year and intended to grow this sector of the business in the upcoming years.