The corporate venture arms of French shipping giant CMA CGM and port operator PSA International are teaming up to drive digitalisation and innovation in the shipping and supply chain ecosystem.

On Tuesday, CMA CGM's Ze Box and PSA unboXed signed a memorandum of understanding to cooperate on several fronts:

- support the growth of each other's ecosystem through the collaboration of resources

- collaborate through their corporate innovation programmes to address industry problems

- support each other's mentorship programme through the provision of experienced mentors to catalyse the growth of startups in the programmes

One objective is to leverage the complementary exposure and capabilities of CMA CGM in the shipping industry and PSA in port operations and management, to test-bed ideas and achieve better customer experience and operational efficiency.

Ze Box will also set up a satellite office in PSA unboXed's Singapore premises.

Rodolphe Saadé, chairman and chief executive officer from 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."

Tan Chong Meng, group chief executive officer from PSA International, 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."