One of the biggest cargo operators at sea runs a fleet of more than 300 vessels that each have their own expense account called a Ship Welfare Fund (SWF). Traditionally, SWF expenses were paid in cash, so receipts had to be tracked, reconciled manually and reviewed by corporate accounting – a ...
Established in 1984, V.Ships is a global ship management company that offers technical services, risk management, procurement and financial services for the tanker, bulker, container, offshore and leisure sectors.
When the Russian-Ukraine war broke out and sanctions were levied, thousands ...
Tsakos is one of Greece’s most storied maritime families. What started a half century ago with Captain Panagiotis Tsakos has grown into a group of successful companies that perform maritime transportation services around the world. In 2018, Tsakos partnered with ShipMoney to reduce cash-to-master ...
Odfjell operates more than 80 ships that move volatile materials by sea. In any given month, each ship was carrying an average of $30,000 in cash and Odfjell was processing $4-5 million in cash-to-master transactions annually.
The company needed a solution that could reduce costs, increase ...
Ponant, a leader in luxury and expedition cruising, faced multifaceted challenges in managing payroll for its diverse crew, which hailed from over 20 different nationalities across Africa, Asia, and Latin America. The logistical hurdles of dealing with cash payments aboard its unique ...
Samos Steamship, a distinguished ship management company with a significant fleet of tankers and bulk carriers, encountered critical challenges in disbursing payments to its seafarers, particularly those from conflict-affected regions.
Traditional banking methods posed numerous obstacles, ...
Net Ship Management, a manning agency based in the Philippines, provides services to nine European principals, managing a complex range of financial transactions for Filipino seafarers. These transactions include the settlement of cash advances onboard, allotments, net wages, and final wage balances. ...
Grandi Navi Veloci (GNV), a prominent Italian ferry company, faced significant logistical and financial challenges in managing its diverse crew, comprising both Honduran and Filipino members. These crew members, often away from home for long periods, had to spend valuable time off sending money back ...
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