Marine Online's Cash-To-Master Service Eases Onboard Cash Flow

SINGAPORE, Sept. 22, 2021 /PRNewswire/ -- Transiting through ports are all vessels' opportunities to execute inspections ensuring seaworthiness before resuming voyage, including replacing faulty parts and replenish supplies, even paying wages for crew's sign-off. These instances would require cash payments, which underscores the need to have ready funds.

Marine Online's Cash-To-Master (CTM) service enables vessels transiting through Singapore ports to carry out its necessary maintenance and supplies replacement/replenishment amongst other tasks. Offering CTM at a competitive all-inclusive service fee, plus accessibility through the platform allow shipowners to eliminate the worries of insufficient funds onboard, paperwork hassles yet remain self-sufficient.

Edmund Chik, General Manager (Ship Supplies and Marine Services) from Marine Online remarked: "Having enough funds onboard is a must for any vessel - like a float for sudden expenses. CTM has been a common practice in the maritime industry, albeit service fees vary across providers while averaging at 2%. Applying that rate for a US$20,000 CTM sum (as an example), the fee would be US$ 400~500. Instead, ours at US$ 368 is all-inclusive; covering necessary tests (due to the pandemic precautionary measures) and transportation expenses, enabling cost-savings."

"Our dollar-to-dollar approach also demonstrates transparency. Customers are hence assured of zero hidden costs. Moreover, our CTM service is accessible through our Marine Online website, where applications can be carried out almost anywhere. The funds will be delivered by our boarding officer when the vessel transits through Singapore port. We are pleased to share that to date, we received tremendous response from shipowners in China, Italy and Japan – all through our platform. Marine Online is actively working on making this service accessible to more countries."

Marine Online is a client-centric platform providing maritime professionals with bespoke solutions. To date, Marine Online has served several global clients across a wide array of maritime-related services.

About Marine Online (Singapore) Pte Ltd

Marine Online is the world's first one-stop integrated platform specialising in maritime services for the global market. Launched in 2019, it has provided various maritime services through its revolutionary A.I and Big Data enabled platform to regional ship and cargo owners. With its portfolio of 8 major services, Marine Online shapes the future of maritime by using cutting edge technology to create business opportunities and connections. For more information, visit marineonline.com

For media queries, please contact Media Relations:

Contact: +65 6571 5888

Email: [email protected]

SOURCE Marine Online (Singapore) Pte. Ltd.

Related Links

http://www.marineonline.com

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