Company Cost Savings
Maritime companies are faced with an expensive logistical problem of delivering cash to their vessels.
Traditional cash-to-master services can be very costly and require many days lead time depending on port locations. ShipMoney provides an efficient and cost-effective alternative by reducing the number of cash deliveries. The potential savings can be significant:
|100||Number of ships||$18,000,000||Est. annual onboard cash advances|
|x 20||Average number of crew per ship||x 4.0%||Est. cost to deliver cash to ships|
|= 2,000||Total number of onboard crew||= $720,000||Est. annual cost to deliver cash to ships|
|x $750||Est. onboard cash advance per crew||x 50%||Targeted reduction in cash deliveries|
|= $150,000,000||Est. monthly onboard cash advances||= $360,000||Est. annual gross cost savings|