CMA CGM, the third largest container shipping company, is taking part in the first ever New York Shipping Exchange (NYSHEX) fundraiser, the first digital marketplace for ocean freight contracts.
By making an investment, CMA CGM will benefit by advancing its electronic booking system, which manages 6 million transactions per year — almost 80% of its total.
Hapag Lloyd, GE Ventures and Goldman Sachs will join CMA CGM to build a cumulative investment of US$13 million.
CMA CGM will make the investment through CMA CGM Ventures, the corporate venture structure recently created by the group, dedicated to investments in innovative technologies.
Rodolphe Saadé, CEO of CMA CGM, has made digitalization a priority.
One of the first digital changes in the company took place in 2013 with the development of an e-commerce platform
In May 2017, the platform became available as a mobile application.
Commenting on the Saadé said: “CMA CGM is pleased with the digital innovation NYSHEX brings to the container shipping industry.
“Digitization is essential to offer our customers new and differentiated products.
“This partnership is an additional step in the digital transformation of CMA CGM, aimed at continuously creating value for its customers.”