Recently, Maersk announced a new "Maersk Trade Finance" vertical business Maersk trade financing services, "Maersk Trade Finance" is a short-term financing platform for credit services, the consignor can order based on Maersk shipping (including shipment before / after) for funding loans, for the payment of freight or other purposes.
Dollar quick payment
At present, the service has been the first landing operation in India. Singapore, Holland, Spain, Arabia, the United Arab Emirates, and parts of North America are also advancing.
If there were no other ways to expand trade financing services, Maersk would consider applying for a banking licence in India. In India, foreign entities can not use the ruble loan, can only use foreign currency, and can not do import finance.
The next 12-18 months, is expected to only reach $200 million in India scale, small and medium enterprises as the main customer target.
In 2012 Vipul Sardana (Maersk has six years of banking experience) said, has signed 95 customers in India, 90% small and medium enterprises, the loan interest rate to LIBOR (LIBOR) as a benchmark, generally higher than LIBOR 2.5%~5.0%, interest rate and financial status of the client credit records based on history, can get the highest value of the goods 80% loan.
The typical scenario is that it is difficult for small and medium-sized enterprises to obtain foreign currencies, which we will be able to provide, which will reduce the overall cost of customers"
India has about more than 7000 Maersk customers, accounting for 18% of the market. The new business not only generates new revenue, but also helps to expand the market share! Especially small and medium enterprises.
The bank provides financial trade, will look at the balance sheet to consider, the only authorized loan Maersk point is the carrier of the goods as collateral, no other collateral or guarantees, to help SMEs to avoid the trap of mortgage.
Maersk has more than 130 branches in the world. It has a natural advantage in supply chain finance. It has its own big data to analyze customer history and possible risks. 100 years of big data is comparable to banks without any financial institution.
The shortage of cross trade financing is considered one of the major obstacles to global trade. Risks associated with import and export business, forcing banks to raise lending thresholds, and making it difficult for SMEs to apply.
Maersk Line finance will promote financial exploration under digitization and rebuild a Maersk line!