Kyklades Maritime partners with ShipMoney to put wage access in hands of its seafarers

Greek independent tanker owners and operator Kyklades Maritime Corporation has partnered with global maritime payments provider ShipMoney to introduce digital crew payment solutions across 18 of its vessels.

The agreement will see ShipMoney’s platform used for crew wage advances and payouts across a multinational crew of approximately 500 seafarers drawn from Greece, the Philippines and the Balkans. The move replaces a manual, multi-party coordination process, giving crew members faster and more direct access to their earnings while at sea, and significantly reducing the administrative workload for both vessel and office teams.

Previously, a crew member requesting an advance, particularly close to a port call or outside normal processing schedules, could require coordination between several parties before funds were released. For seafarers needing urgent access to money for a family matter ashore, that delay was keenly felt. ShipMoney removes that friction entirely.

Capt. Petros Komitopoulos (pictured, left), Manager Manning Dept. at Kyklades Maritime Corporation, said: “The well-being of our seafarers is always at the heart of what we do at Kyklades Maritime. Our partnership with ShipMoney gives our crew greater flexibility and direct access to their earnings while at sea, and the positive response from our seafarers confirms that we are moving in the right direction.”

Stuart Ostrow (right), President of ShipMoney, said: “Kyklades Maritime are exactly the kind of partner that means something to us. They are serious operators with serious standards, and when a company of their standing in the Greek shipping community chooses ShipMoney, it matters. But what matters more is what this means for the 500 seafarers on those vessels. These are men and women working hard, far from home, who deserve to be paid simply, safely and on their own terms. That is what we are here for.”

The partnership reflects growing momentum among Greek shipowners towards digital crew payment infrastructure, as the industry moves away from cash-based systems that have long created friction for seafarers managing remittances across multiple currencies and banking environments. Kyklades Maritime’s decision to prioritise the crew experience as the primary measure of success in the transition is consistent with its long-standing commitment to the highest standards of safety, operational excellence and seafarer welfare.