About

This leading provider of ship management services supports ship owners around the world. Based in Hong Kong, the company operates across 50 entities with representative offices in 15 countries in the APAC, EMEA and WHEM regions.

The company engages in ship management, crew management, education and training of seafarers, technical services and commercial operations globally.

The challenge

Doing business around the world, the treasury team for this major provider of ship management services struggled to manage its numerous banking relationships. To overcome this challenge, the team recognized that it needed to rationalise banking relationships, improve visibility and control of surplus in-house funds and client working funds, as well as maximize interest yields on it surplus funds.

To achieve these critically important objectives, treasury needed to leverage technology and innovative liquidity management solutions in order to improve its operational efficiency.

The J.P. Morgan solution

• The treasury team turned to J.P. Morgan to implement a USD cash concentration structure to maximize liquidity.
• The team used Loan Management Accounting (LMA) to generate enhanced yields for its portfolio of stable balances, while avoiding any commingling with in-house funds.
• Group interest credited to a designated interest pay-out account.

J.P. Morgan is the marketing name for the Treasury Services business of JPMorgan Chase Bank, N.A. and its affiliates worldwide.

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