CMA CGM participates in the first ever New York Shipping Exchange (NYSHEX) fundraiser, the first digital marketplace for ocean freight contracts. The investment is made alongside Hapag Lloyd, GE Ventures and Goldman Sachs, for a cumulative investment of 13 mill. $.
The investment[ds_preview] is carried out through CMA CGM Ventures, the corporate venture structure recently created by the CMA CGM Group and dedicated to investments in innovative technologies. The shipping company, which says it already accounts for nearly 80% of its bookings by electronic means, meaning more than 6 mill. transactions per year, continues its digital transformation.
German shipping company Hapag-Lloyd also invested in the NYSHEX, hoping for more cargo and more reliable delivery of cargoes.
»Digitization essential to offer differentiated products«
On the occasion of this investment in the United States, CEO Rodolphe 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.«
Saadé has made the Group‘s digitalization one of its four priorities. This was initiated in 2013, notably through the development of an e-commerce platform, which is now available, including in the form of a mobile application. The Group‘s digitization strategy is based on internal projects as well as on commercial or capital partnerships via its corporate venture structure.
