MSC and CMA CGM to invest in Traxens

25 July 2016 (Last Updated July 25th, 2016 18:30)

Switzerland-based Mediterranean Shipping Company (MSC) has joined container shipping company CMA CGM to invest in French start-up Traxens.

Switzerland-based Mediterranean Shipping Company (MSC) has joined container shipping company CMA CGM to invest in French start-up Traxens.

Under the deal, both CMA CGM and MSC will be represented on the board of directors of Traxens.

Established in 2012, Traxens has been developing solutions for the cargo logistics sector and has created a new multi-modal container monitoring and coordination system to provide real data for logistics excellence.

"We believe that shipping lines should naturally compete on service, but should co-operate in the area of technology and innovation."

By the last quarter of this year, CMA CGM and MSC will have installed Traxens devices across their fleet.

Mediterranean Shipping Company president and CEO Diego Aponte said: “We see container monitoring as an important innovation in providing our customers with a high quality of service, while also being able to monitor our outputs accurately.

“We believe that shipping lines should naturally compete on service, but should co-operate in the area of technology and innovation.”

CMA CGM, which has been backing Traxens since 2012, noted that the investment is a part of its global digital strategy.

With a combined fleet of 4.5 million units, CMA CGM and MSC currently transport around 25% of the world’s shipping containers.

Additionally, MSC now operates 480 offices across 150 countries worldwide with over 24,000 employees.

The company operates on more than 200 trade routes and are being called at over 315 ports.

CMA CGM currently has 536 vessels that are being called to more than 420 ports in the world.

Last year, the company carried 18 million twenty-foot equivalent units (TEU).