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.”