GENEVA: MSC Mediterranean Shipping Company, a global leader in transport and logistics, has selected India as the first market to benefit from a new trade finance solution for cargo shippers, said a recent MSC release.

MSC Trade Finance is fast, simple and flexible and will help Indian exporters to ship goods and manage cashflow. With the new solution, MSC customers can arrange cargo shipments and pay later at the point of shipment or delivery.

This is a welcome development for companies tackling the challenging operating environment imposed by the recent COVID-19 lockdown. Wherever possible, MSC has sought to adapt its business to ease the impact of the pandemic, as well as ensuring good continuity of usual services.

After taking soundings from various shippers, it’s clear that MSC Trade Finance has already started to help companies in India to get cash in more quickly and have better, more flexible control over their cashflow. Ultimately, it should help businesses to grow.

India is not only one of the world’s largest economies,

it’s also one of the biggest markets for MSC, with ocean liner and overland freight services stretching across the country. As a truly global company, MSC counts among its customers both Indian exporters and importers, as well as companies around the world which trade with the country.

To set up this solution, MSC has collaborated with a trusted external trade finance partner to take on the buyer’s credit risk. MSC itself does not lend against its own balance sheet or sell financial services to customers.