PSA inks CMA CGM tech partnership
The corporate venture capital arms of port operator PSA International and shipping company CMA CGM have signed a Memorandum of Understanding (MoU) to drive "digitalisation and innovation in the shipping and supply chain ecosystem”.
The MoU, made between PSA unboXed and CMA CGM’s Ze Box, forms part of the two divisions’ commitment to giving local startups the tools for success while nurturing a vibrant startup network in Singapore.
Under the agreement, Ze Box and PSA unboXed will work together in several different areas.
Ze Box will establish a satellite office within PSA unboXed premises in Singapore, with the two organisations also set to support the growth of the other’s network by collaborating with resources.
Through their corporate innovation programmes, the divisions will additionally work together to address sector problems, leveraging on the other’s knowledge and experience to deliver problem statements and real-life solutioning capabilities, to test-bed ideas and to attain improved operational efficiency and customer experience.
The organisations will also support each other’s respective mentorship programme by providing experienced mentors to catalyse a startup-increase in the schemes.
PSA unboXed, aside from being PSA International’s corporate venture capital arm, is the port operator’s external innovation wing, while Ze Box invests in startups with innovations providing strategic value to the CMA CGM Group.
The two divisions’ collaboration builds on the CMA CGM-PSA commercial partnership — an example being the CMA CGM-PSA Lion Terminal in Singapore.
Commenting on the partnership between PSA unboXed and ZeBox, Tan Chong Meng, PSA International group chief executive, said: “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.”
Rodolphe Saadé, chairman and chief executive of the CMA CGM Group, said: “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.”
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