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ShipServ agrees MarTrust partnership

ShipServ reports that it has entered into a partnership with MarTrust, a Marcura Group company, to facilitate the vetting of suppliers and the completion of international payments by its ship operator and manager customers.

{mprestriction ids="1,2"}MarTrust is a global payments provider focused on the maritime industry, able to provide independent compliance checks, bank account vetting and validation, as well as payments processing for the benefit of the 65,000 suppliers trading on the ShipServ platform.

“By collaborating with MarTrust, ShipServ is confident the required operational and financial due diligence checks are undertaken by trusted, independent maritime industry specialists that understand the pressures placed on owners and operators, and their need to make efficient, reliable and secure transactions worldwide,” said Kim Skaarup, chief operating officer, ShipServ.

“ShipServ's overall objective is to reduce OpEx for shipowners and managers, and this new solution fits perfectly with that. In working together, we can now offer transaction efficiencies, as well as monitoring and analytics, through the entire end-to-end purchasing and procurement process. This solution is available now, and in the future the partnership will look into developing additional advanced payments tools.”

MarTrust is an independent financial services provider but works in partnership with financial institutions to make cross-border payments, to make these processes more accessible to the maritime industry.

“The problem for ship owners and managers is that their banks often do not have a thorough understanding of the maritime industry, or access to the relevant information or contacts to complete compliance checks quickly and accurately,” said Domenico Carlucci, managing director, MarTrust.

“As a result, these processes can end up being burdensome and costly for both the banks and more importantly for ship operators and ship management companies, which need to move quickly and take advantage of the most suitable offers from suppliers to manage operating costs.”

“The truth is that the problems are not with the banks, but the banks do find it extremely hard to manage the cost of compliance in the maritime space.”{/mprestriction}

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