ShipMoney Extends Agreement With Helikon Shipping

ShipMoney has extended its Maritime Payment Services Agreement with Helikon Shipping into a long-term multi-year relationship.

Welcoming the extension, Mr. Michael Papaioannou, the Managing Director of Helikon said: “The ShipMoney Program is very well received by our crew members, providing them with a range of remittance options while onboard saving them time and money while in port.  For our Company, the Program has streamlined our onboard crew payment process, reduced our costs and provided a new benefit to our valued crew members and their families.  We are pleased to work with ShipMoney on an exclusive basis for our onboard crew payments.”

ShipMoney has been utilized by Helikon to pay wages to crew members onboard under its agency for the last several years and they have decided to extend the relationship given the success of the Program and their upcoming expansion of the Helikon fleet.

ShipMoney offers crew complete control and access to their wages while onboard ship, including the timing and currency of remittances sent home. It reduces the need for large amounts of cash to be delivered to ships and eliminates the need for Helikon to administer individual crew wire payments sent to home bank accounts.

Stuart Ostrow, President of ShipMoney, said: “It’s been such a pleasure working with Michael and his Team at Helikon.  We are excited to extend our relationship with the Company.  We are looking forward to introducing some new and innovative services to their crew in the near future.”


Maritime Payment Solutions, LLC (ShipMoney) is an industry leading provider of payment solutions for maritime companies throughout the world facilitating crew payroll payments, international corporate remittances, money transfers, mobile top-ups, payroll advances, onboard expenses and all other forms of shoreside and onboard payments.  The founder of ShipMoney, Stuart Ostrow, was directly responsible for, and instrumental in, the initial development and adoption of the prepaid payment programs for the cruise line industry. ShipMoney is the second generation of this endeavor.  ShipMoney is an operating subsidiary of Global Technology Partners, LLC.  GTP is one of the largest international prepaid payment processors in the world, providing services and programs in over 30 countries in partnership with over seventy banks.


Helikon Shipping

Helikon Shipping Enterprises Ltd have been engaged as London General Agents for Owners of a fleet of bulk carriers since 1961.  The company specialises in the operation of grab-equipped supramax vessels serving the tramp trades. The company currently carries out technical and operational management for thirteen vessels and newbuild supervision services for a further ten vessels, which are due to enter the managed fleet in the next year.