Maersk has partnered with Viaservice-Ke to offer a digital container financing solution to customers in Kenya.
Through the partnership, Maersk customers will gain access to the Viaservice Container Solution (VCS).
The digital platform aims to reduce the amount of working capital tied up in container deposits. It also seeks to simplify container-related transactions for freight forwarders and other logistics companies.
The partnership builds on an existing collaboration between Maersk and Viaservice in Tanzania.
Alternative to traditional container deposits
Importers traditionally pay a refundable deposit before a shipping line releases a container. The deposit is returned after the empty container is handed back.
However, companies handling multiple containers can have significant capital tied up in these deposits.
VCS provides eligible customers with an alternative arrangement. It allows containers to be released without customers paying the traditional deposit themselves.
Viaservice can provide an advance payment facility covering demurrage, damage and total loss on behalf of the customer. The arrangement operates on a reimbursement basis.
As a result, businesses can preserve more working capital while continuing to move their cargo.
“As Kenya continues to strengthen its position as a regional trade and logistics hub, our customers require solutions that support working capital management, reduce transaction bottlenecks, and facilitate seamless movement of goods,” said Tito Okuku, Area Managing Director for Eastern Africa, Maersk.
“Through our partnership with Viaservice, we are enhancing the value we provide by facilitating access to financing solutions that complement our logistics services and contribute to smoother trade flows,” added Okuku.
Partnership expands from Tanzania to Kenya
The agreement expands an existing partnership between the two companies in Tanzania.
According to Viaservice, the expansion into Kenya will allow more container flows through the Port of Mombasa to use an alternative to traditional cash deposits.
The companies expect the benefits to extend beyond Kenya. Mombasa serves trade corridors connecting several landlocked markets across East Africa.
“By reducing capital tied up in container deposits, VCS helps businesses preserve liquidity, improve operational efficiency and move cargo more smoothly across these corridors,” said Morgan Lépinoy, Managing Director, Viatrans SA.
Maersk and Viaservice also plan to carry out customer education and stakeholder engagement initiatives. These efforts will focus on increasing awareness and adoption of the digital platform.
