CMA CGM’s corporate venture capital arm Ze Box and PSA International’s external innovation and corporate venture capital arm PSA unboXed have signed a memorandum of understanding to drive digitalization and innovation in the shipping and supply chain ecosystem.
Under the MoU, both companies will support the growth of each other’s ecosystem through the collaboration of resources, collaborate through their corporate innovation programmes to address industry problems, leverage each other’s industry knowledge and experience to provide problem statements as well as real-life solution capabilities in order to test-bed ideas and to achieve better customer experience and operational efficiency, and support each other’s mentorship programme through the provision of experienced mentors. Ze Box will also set up a satellite office within the PSA unboXed premises in Singapore.
“We are delighted to work with PSA unboXed on this initiative,” said Rodolphe Saadé [left in photo], chairman and chief executive officer of the CMA CGM Group. “Through this collaboration, we will mentor startups and offer them access to key knowledge and expertise, so that they are well placed to succeed. This partnership will accelerate our digital strategy to achieve better customer experience and operational efficiency.”
The MoU is part of Ze Box’s and PSA unboXed’s commitment to equipping local startups with the tools to succeed, while nurturing a startup ecosystem in Singapore.
“We are very glad to work with CMA CGM’s Ze Box,” said Tan Chong Meng [right in photo], group chief executive officer of PSA International. “Logistics is a team sport, and PSA and CMA CGM have different and yet complementary strengths in the global supply chain. This technological collaboration will add depth and diversity to our respective innovation efforts, as we seek to co-create meaningful and impactful solutions in the face of technological disruptions and changing customer needs.”
The collaboration between Ze Box and PSA unboXed builds on the existing commercial partnership between the CMA CGM Group and PSA International. The two companies operate the CMA CGM-PSA Lion Terminal at the Port of Singapore.