We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Maersk launches trade finance operation
newsworthy

Maersk launches trade finance operation

June 15, 2017
DC Velocity Staff
No Comments

Danish liner company Maersk Line has expanded into the trade finance business by allowing customers to finance their operations as long as they are shipping with Maersk.

The financing scheme works because Maersk has a rich trove of customer information from which to base a decision on the customer's creditworthiness, according to the Copenhagen-based company. This enables companies to manage their shipping and finance needs with one provider, rather than using one vendor for shipping and another vendor—normally a bank—for trade finance, Maersk said.

All onboarding and transactions are handled digitally, and the platform offers pre-shipment and post-shipment credit facilities, said Shoby Jose Ephrem, a Mumbai-based Maersk spokesman.

Maersk's goal is to "provide a single window for flow of goods and money, thus simplifying the trading landscape for our customers," Ephrem said in an e-mail. The service, launched last year in India, has recently been expanded to five U.S. states: Georgia, New York, New Jersey, Florida, and Texas. It is also available in Spain, the Netherlands, and Singapore. It will soon be launching in the United Arab Emirates. Maersk plans to expand the offering in the U.S. and Europe.

According to a report yesterday in Global Trade Review, Maersk has about 150 customers and has lent about US$100 million. The company expects that number to hit US$200 million over the next 18 months, according to the report.

Though finance is a necessary component of commerce's three-legged stool, along with goods and information, it is uncommon for shipping companies to bundle trade finance by leveraging customer transactions. In the late 1990s, Atlanta-based UPS Inc. launched a trade finance arm called "UPS Capital" that operated in a similar manner to Maersk's offering. UPS Capital remains in business.

Transportation Maritime & Ocean
KEYWORDS Maersk Line UPS
  • Related Articles

    Zim, Maersk, MSC sign co-operation pact on Asia-U.S. East Coast trades

    Maersk, IBM launch first blockchain joint venture for trade, transportation

    Blockchain in Transport Alliance partners with finance trade group

Recent Articles by DC Velocity Staff

Report: Global TMS revenues to nearly double by 2025

E-commerce fulfillment squeezes retailers’ profit margins, Manhattan Associates says

Logistics-as-a-Service platform expands with $2.5 million funding round

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • IBM survey says digitalization trends will sweep trucking industry by 2030

  • Gartner survey signals increased investment in resilience over the next two years

  • Truck driver hiring pool tightens to lowest point in three years, ACT says

  • What Level of Automation is Right for Your Warehouse?

  • Growing up … and up and up: interview with Sam Bertram

Now Playing on DCV-TV

D92f0dd1 a98c 434a 9e17 30b63ee72c90

Automated Pack-out and Print-Apply System for thredUP

DCV-TV 4: Viewer Contributed
SilMan Industries designed and implemented a mixed polybag-carton system, including automated print and apply, in a new regional Fulfillment Center for thredUP, one of the world’s largest online resale platforms for women’s and kids’ apparel, shoes, and accessories.The Situation Secondhand clothing and online...

FEATURED WHITE PAPERS

  • Using innovation to manage peak seasonal demand

  • Time to rethink your lift truck power

  • Warehouse Management System Project Toolkit

  • Solving Talent Management Challenges Now and In the Future

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing