MarTrust, the leading global maritime payment solutions company and a subsidiary of Marcura, today announced that Anglo-Eastern, one of the world’s largest providers of ship management services, has chosen the MarTrust E-Wallet solution to manage its crew payments. The next-generation payment solution was recently launched in October 2021.
With increasing geopolitical uncertainty and risk, particularly for Ukrainian seafarers, Anglo-Eastern is now using the MarTrust E-Wallet and card to better protect their payments and comply with sanctions regulations.
Commenting on the development, Carsten Ostenfeldt, COO of Anglo-Eastern, said:
“We place the safety and well-being of our crew as our highest priority, and as a responsible ship manager, it is incumbent on us to ensure we ease the concerns our crew will have in relation to receiving payment. Transferring funds to seafarers’ accounts in Odesa or Kiev was, until recently, a formality. Clearly, the circumstances have dramatically changed, and it is critical that companies act swiftly to protect the interests of their seafarers.
“The MarTrust solution allows our seafarers to receive funds in an E-Wallet managed by an entity approved by, and operating under, the UK’s Financial Conduct Authority. This not only allows individual crew members to decide what portion, if any, they wish to repatriate; it also allows us, as a company, to be compliant with relevant trade and economic sanctions.
“Furthermore, we see the solution as a step in the right direction with regard to the digitalisation of our services, and one that involves less risk and cost compared to the more cash-based solutions that are typically seen across our industry.”
MarTrust’s E-Wallet and card optimises the payment process for ship owners and operators. This enables crews to receive funds quicker compared to traditional banking routes, and provides them with complete control of their funds and online purchases, with reduced risk and lower transaction costs. They also have the ability to quickly transfer money to anyone at any time – in particular, sending much-needed financial support to their families.
Domenico Carlucci, CEO of MarTrust, added:
“We are pleased to be able to assist one of the world’s largest ship managers in aligning their crew payment system to a new world of sanctions and other restrictions. The MarTrust E-Wallet is designed purely for the maritime world and is backed by large international banks.”
The E-Wallet can be accessed safely and securely anywhere and at any time via a web portal or mobile app, and can be seamlessly integrated into existing systems. From there, funds can be easily and securely transferred directly to crew to pay whatever is required, be it salaries, bonuses, overtime or cash advances.
The E-Wallet and card also reduce the need for seafarers to manage or store significant amounts of cash, providing increased security. By using the free, pre-paid card, cash can be accessed at any Mastercard-supported ATM or bank teller around the world, and the card can be topped up in up to eight different currencies for increased flexibility.
MarTrust provides payment solutions and services focused solely on the maritime industry. Working in close partnership with leading global financial institutions, MarTrust enables ship owners, vessel operators, ship managers, crewing companies, and other industry players to make safe and efficient cross-currency and cross-border micro-payments to ensure smooth trading. MarTrust screens beneficiaries for sanctions compliance, providing live FX rates and processing payments with a 99% success rate.
MarTrust’s integrated payment solution combines maritime experience with modern E-Wallet and pre-paid card technology, enabling companies to transfer funds to multiple accounts and execute payrolls and Cash-to-Master (CTM) transactions with complete control, transparency, and security. The E-Wallet and card also reduce the need for seafarers to manage or store significant amounts of cash, providing increased security.
As part of The Marcura Group, MarTrust handles over USD 10 billion of maritime-related payments yearly. Discover more at www.martrust.com
MarTrust Corporation Limited is registered in England and Wales (Company No. 07498933). It is an Authorised Payment Institution (API) regulated by the UK Financial Conduct Authority (FRN 794752) under the Payment Services Regulations 2017. Its registered company address is Office 7.09, 7th Floor, Tintagel House, 92 Albert Embankment, London, SE1 7TY, United Kingdom.
PFS Card Services (Ireland) Limited is a company registered in Ireland with its registered office address at Front Office, Scurlockstown Business Park, Trim, Co. Meath, C15 K2R9, Ireland (with company registration number 590062, authorised and regulated as an e-money issuer by the Central Bank of Ireland registration number C175999).
The Marcura Group provides the maritime industry with 24/7 operational support services and specialised cloud-based platforms managed by industry specialists. The company works closely with its global customers and partners to develop innovative solutions to everyday industry challenges, and together raise standards along the way.
Founded in 2001 on the principles of independence and transparency, Marcura is headquartered in Dubai with a global network of offices. The group includes, among others, the world’s largest port cost and port time management company, DA-Desk; a leading supplier-vetting and procurement services provider, PortsDirect; and a maritime-focused payment processing company for secure, efficient and cost-effective international payments, MarTrust. In the tramp shipping sector, in particular, the group’s companies also provide structured cash management, fixture management and business intelligence services.
Marcura delivers voyage-optimising systems and the benefits of scale to over 650 leading maritime enterprises worldwide. The global team of over 728 people includes maritime operations experts, software developers, scientists, engineers and data analysts from 43 different countries – all committed to supporting the frontline of the maritime industry. Visit Marcura’s website: www.marcura.com
Anglo-Eastern is a leading global provider of independent ship management services, with 650 vessels under full technical management, over 200 under crew management, and a technical services division that has overseen more than 450 newbuildings and conversions to date.
The group’s managed fleet comprises all ship sizes and types, from bulk carriers, container ships and tankers (gas, oil, chemical) to ship types not covered by many other managers: ice-class OBO, pipe-layers, heavy-lift, LPG FSO, plus others. These are areas where quality, experience, systems and tailor-made technical approaches all come together.
In-house recruitment and training provides Anglo-Eastern with direct crewing control. Individually screened and selected cadets are developed at the Anglo-Eastern Maritime Academy in Karjat, near Mumbai, while the group’s 30,000 skilled seafarers receive continuous training at strategically located Anglo-Eastern Maritime Training Centres in India, the Philippines, and Ukraine.
Supporting Anglo-Eastern’s seafarers and business partners is a dedicated team of more than 1,800 shore staff, who together provide global coverage with local and functional expertise via a network of more than 25 offices and specialist centres located across Asia, Europe and the Americas. Learn more at www.angloeastern.com