In an almost entirely globalised industry, shipping and logistics providers rely on a number of international factors including currency exchange.
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. That’s why movements in the currency markets can not only affect your profits and bottom line, 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 account provides you the flexibility to pay crew members around the world on an ad-hoc or recurring basis, while our solution allows you to 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 bottom line. With global payment solutions for international businesses, as well as our FX solutions, we work to take the stress and cost out of foreign exchange.