Currency exchange for the Shipping Industry

Currency exchange for the Shipping Industry

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Save time and money on foreign exchange and global payments within the shipping industry

2020 has brought seismic change to the globalised shipping and logistics sector and with cost pressures high on the agenda, the importance of competitive currency exchange has never been more clear.

Every journey within the shipping industry plays its part in the international supply chain and relies on cross-border relations as well as a number of interaction points. In addition, the pandemic has brought changes to rules relating to crew changes, shore leave, seafarer repatriation as well as additional requirements regarding PCR tests and even some ports prohibiting ships from high-rusk countries. That’s why movements in the currency markets can not only affect your profits, but also the day-to-day operations of every vessel.

 

How foreign exchange can affect the shipping and logistics industries

Every shipping provider may be required to make a number of international payments to pay for a single journey, from crew salaries to on-board supplies and docking fees.

All of these expenditures must be settled at different points before and after the journey, while local port authorities may even have different payment procedures. This could result in a typical day requiring you to make multiple payments in different currencies to pay for your vessels around the world.

With this in mind, we’re delighted to offer a flexible and cost-effective currency exchange solution that works to save you both time and money.

 

How we can help your business save money

We can help you navigate your way through the foreign exchange market and save money on payment routes. We do this by leveraging our local clearing capabilities to help solve the complexities of settling to local port authorities worldwide.

Your business multi currency account provides you the flexibility to pay crew members around the world on an ad-hoc or recurring basis, manage additional costs due to the pandemic and minimise cash on board vessels through account and card services to operators and the crew.

Our team of experienced account managers look after thousands of businesses, a large proportion of which work within the shipping industry, enabling us to propose tailored solutions to help protect their finances. With global payment solutions for international businesses, as well as strategies for currency risk management, we work to take the stress and cost out of foreign exchange.

What we can offer your business

Market updates to keep you informed of the currency movements

Market updates to keep you informed of the currency movements

Easy upload functionality for mass payments

Easy upload functionality for mass payments

Competitive pricing giving you access to more than 18 liquidity providers

Competitive pricing giving you access to more than 18 liquidity providers

Exchange more than 120+ currencies

Exchange more than 120+ currencies

Our foreign exchange solutions for your business

Our foreign exchange solutions for your business

To find out more about our foreign exchange and global payment solutions for businesses, you can view our brochure.

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Foreign exchange solutions

Foreign exchange solutions

Our team will work with you to identify your individual requirements and be able to suggest products including Spot Contracts, Market Orders, Forward Contracts to meet your foreign exchange needs.

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Risk management

Risk management

Protect your business from foreign exchange market volatility, forecast cash flows and minimise risk with our range of hedging tools. 

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Payment solutions

Payment solutions

We provide payment solutions for businesses with local or international requirements, who are looking to simplify the process and cut on-going costs. 

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