CMA CGM offers financing, extended payment deadlines for shippers

CMA CGM announced the pilot-phase launch of its SHIPFIN Trade Finance service on Monday, an all-digital platform that offers a variety of payments, invoicing and financing services to importers and exporters. Through SHIPFIN, importers will have access to supply chain financing, which includes extended payment deadlines of up to 120 days and digital payment tracking. Under cargo financing, exporters will have the option to accept upfront cash payments (up to 90% of the invoice value) after loading their goods and simplified currency exchanges, among other services. In a video announcement, CMA CGM said it is rolling out the platform to streamline global trade transactions and offer some financial relief to companies working to mitigate the instability of the current trade environment.