SIMIC

"Calculation of incentive credits on a weekly basis with a credit memo issued every 14 days to each applicable importer of record (consignee listed on the Bill of Lading).

"Utilisation of EDI transaction data to assess credit, thus no additional documentation required from customers," said CMA CGM.

CMA CGM's new 60-day incentive programme is projected to result in 43,000 dry containers being put back into circulation within four days of pickup

This will also apply to all CMA CGM return locations in Chicago, Dallas, Kansas City and Memphis. The programme will continue until July 15, with the goal of accelerating the return of empty containers and ensuring US exporters have even greater access to equipment.

The shipping industry has experienced an unprecedented spike in demand, leading to severe congestion throughout North America's supply chain, said CMA CGM.

"Exporters have been impacted particularly hard by the challenges, with the lack of equipment making it more difficult to get their goods to market in a timely manner," it said.

Throughout, CMA CGM has leveraged its extensive capabilities that include sea, land, air and logistics services to provide an array of flexible transport and logistics solutions to assist customers, it said.

The company has also significantly invested in industrial assets (vessels, containers, chassis, aircraft, terminals and warehouses) and implemented several industry-leading programmes designed to decrease congestion and help both partners and customers navigate the complex environment.

Not only was CMA CGM the first to freeze spot rates, the company also implemented a programme to encourage the early pickup of containers, which resulted in a 73 per cent decrease in dwell of CMA CGM containers over 9 days in southern California. And in March, the company dedicated vessel capacity to small and medium enterprises in both Europe and North America at rates typically only provided to high-volume shippers.

CMA CGM is also collaborating with industry associations like the International Dairy Foods Association (IDFA) to develop customised, market-based solutions to ensure greater reliability and predictability for US exporters.