Case Studies

We helped the legendary Greek shipping brand eliminate cash-to-master expenses, increase security and enhance crew benefits.

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 expenses and provide crew members with enhanced benefits.

How did a large Norwegian tanker operator virtually eliminate 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.

In under three weeks, we deployed a solution for paying wages to 4,000+ Russian and Ukrainian crew members.

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.

How does one of the largest container operators instantly fund SWF’s around the world?

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 tedious, time-consuming and error-prone […]