Piraeus-based Kyklades Maritime Corporation, one of Greece's most respected independent tanker owners and operators, has partnered with global maritime payments provider ShipMoney to introduce digital crew payment solutions across 18 of its vessels.

Under the agreement, ShipMoney's platform will handle crew wage advances and payouts for 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 while 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. The change also matters against the backdrop of the Maritime Labour Convention, 2006, which sets international requirements for seafarers' employment, including the timely payment of wages and access to remittance channels—obligations that digital payroll platforms are increasingly used to help operators meet.

Capt. Petros Komitopoulos, 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, 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. Greece controls one of the world's largest merchant fleets, and adoption of digital wage tools by established Greek operators such as Kyklades Maritime is a notable signal of how crew payment practices are shifting across the shipping sector more broadly. 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.

Kyklades Maritime Corporation is a leading independent tanker owner and operator headquartered in Piraeus, Greece. The company manages a modern fleet of crude oil tankers trading worldwide and is dedicated to the highest standards of safety, operational excellence and seafarer welfare. Through continuous investment in its people, fleet and technology, Kyklades Maritime delivers reliable and efficient maritime transportation while building long-term partnerships with customers and stakeholders across the global shipping industry.

ShipMoney is a provider of digital payment solutions for the maritime sector, streamlining payroll distribution and eliminating beneficiary and cash-management challenges for ship owners and managers worldwide. Enabling crew of all nationalities to receive their wages digitally through a secure Visa debit card, e-wallet and mobile app, ShipMoney gives seafarers control and access to their funds anytime, anywhere, while saving them time and money. The company serves thousands of seafarers across 150+ countries, delivering reliable, compliant and trusted payment solutions. Its mission is to simplify financial transactions and support crew well-being, no matter where their journey takes them.

Source: ShipMoney (via Hellenic Shipping News)