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CMA CGM launches new range of import and export financing solutions

October 21, 2019: The CMA CGM Group today announced the launch of ‘Shipfin Trade Finance’, a new range of financing services based on two initial products, Supply Chain Financing and Cargo Financing, dedicated respectively to importing and exporting customers.

The solution made in partnership with Incomlend, a global invoice finance platform, will be available on the CMA CGM, ANL, APL and CNC platforms.
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The solution made in partnership with Incomlend, a global invoice finance platform, will be available on the CMA CGM, ANL, APL and CNC platforms.

October 21, 2019: The CMA CGM Group today announced the launch of ‘Shipfin Trade Finance’, a new range of financing services based on two initial products, Supply Chain Financing and Cargo Financing, dedicated respectively to importing and exporting customers.

With Shipfin Trade Finance, CMA CGM offers all its importers and exporters 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” says the release.

The solution made in partnership with Incomlend, a global invoice finance platform, 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.

Mathieu Friedberg, Senior Vice President – Commercial Agencies Network, 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.”

The Group is thus putting its expertise and presence in 160 countries around the world at the service of its customers’ international development.

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 by the KYC assessment achieved by their suppliers and simplify their processes by interfacing their IT systems with the platform (EDI/API).
Cargo Financing offers a solution intended for exporters who wish to improve their working capital and ensure the growth of their business.

This allows to maintain cash position by receiving payment as soon as they load goods, for up to 90% of the value of the invoice, optimize the tracking of invoices and customer receivables by finding all documents in one place, reduce customer risk by CMA CGM's credit insurance coverage, simplify multi-currency exchanges (4 currencies available), simplify invoice collection process, benefit from non-recourse financing and maintain their borrowing power.

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