Los Angeles, CA, USA, February 20, 2016 The Benjamin Franklin, one of the worlds largest container cargo vessels is docked at the Port of Los Angeles, CA
The CMA CGM Group has implemented its new Early Container Return Incentive Program at several of its terminals in the US to accelerate the return of empty containers and improve supply chain velocity.
The program started today [16 May] and will continue until 15 June at the Fenix Marine Services (FMS) terminal in the Port of Los Angeles and all CMA CGM return locations in Chicago, Dallas, Kansas City and Memphis.
CMA CGM has launched the new 60-day incentive program to counteract the ongoing congestion crisis throughout North America’s supply chain.
According to the group, the program will result in approximately 43,000 dry containers being put back into circulation within 4 days of pickup.
The incentives include a $300 credit per dry container returned to eligible locations during calendar days 1–4; calculation of incentive credits on a weekly basis with a credit memo issued every 14 days to each applicable importer of record; and utilization of EDI transaction data to assess credit, thus no additional documentation required from customers.
“CMA CGM is committed to doing everything we can to increase the fluidity and velocity of America’s supply chain,” said Ed Aldridge, President of CMA CGM and APL North America.
“Our new program will result in an incentive credit for our importers, improve equipment availability for our exporters and expedite the flow of goods into and out of America’s heartland. It’s truly a win-win for everyone.”
Throughout the crisis, CMA CGM has already frozen spot rates and implemented other programs to accelerate the flow of goods – resulting in a 73 per cent decrease of dwell of the group’s containers over nine days in South California.
Resulting from record demand and supply chain capacity challenges, CMA CGM is amongst the top performers of 2021.
Last year, the group saw its shipping revenue rise by 88.5 per cent compared to the previous year, reaching $45.3 billion.
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