CMA CGM Launches Trade Finance Service

Maritime Activity Reports, Inc.

October 22, 2019

  • Pic: CMA CGM
  • Pic: CMA CGM 

French shipping line CMA CGM has launched Shipfin Trade Finance (STF) , its new range of financing services dedicated to importing and exporting, in partnership with invoice finance platform Incomlend.

The STF portfolio of products is, according to the carrier, “simple, reliable and rapid,” offering importers and exporters tailored financial solutions ranging from extended payment terms to financing advances.

CMA CGM Group further explained that it wants to support its customers’ business through financing solutions tailored to their needs. The Group is putting its expertise and presence in 160 countries around the world at the service of its customers’ international development.

"With a dedicated team of experts based in the Group’s headquarters in Marseille, customers can benefit from a set of tailor-made solutions ranging from extended payment terms to financing advances”, it said.

The Shipfin Trade Finance range is based on two initial products: 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.

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."

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