Van AalstBühler GmbHSailors SocietyCleveland Cascades LtdThe Wolfson Centre for Bulk Solids Handling Technology Port of South Louisiana
  • Sailors Society
  • Port of Stockton
  • TOC Events
  • Vigan
  • Van Aalst
  • Port of South Louisiana

CSM partners with Kadmos to automate crews’ salary pay-outs

CSM partners with Kadmos to automate crews’ salary pay-outs

(Posted on 18/07/22)

Columbia Shipmanagement (CSM) has announced a partnership with Berlin-based Fintech Kadmos to automate and digitalize its seafarers’ salary payouts. With a growing demand for better payment options that increase security and transparency,

CSM has selected Kadmos’ salary payment platform which is designed for paying workforces that are dispersed worldwide. Kadmos’ technology will drastically improve the way CSM crews receive and manage their salaries, enabling greater self-service opportunities while seafarers obtain more security and flexibility with their salary payouts. This announcement comes soon after Kadmos closed a €29m Series A funding round which will accelerate further technological and product development.

Mark O’Neil, CEO of CSM, said: “Columbia is incredibly excited to have teamed up with Kadmos’ young, dynamic and innovative team of experts who have developed an excellent and secure payment product. We strongly support and encourage new players in the shipping industry to challenge the status quo and to reform and update outdated practices in line with the dynamic expectations of their clients.”

This partnership will utilize innovative financial technologies, developed by Kadmos’ engineering teams, for paying employees around the world. In choosing Kadmos’ salary payment platform, CSM will help their crews improve the security, speed, and transparency of home remittances while reducing reliance on cash.

Former Capt. Roy Machart, Global Key Account Director Marine at Kadmos, explains, “We are excited to start helping the seafarers at CSM get more out of their salaries while making sure that they are keeping their money safe and secure.”

Kadmos has developed its salary payment platform as a response to the outdated and costly ways in which seafarers are being paid. The aim of Kadmos is to help seafarers have more control over their money and improve administrative efficiency for shipping companies.

Mr O’Neil added: “This partnership and the implementation of Kadmos’ secure and digitalized payment solution to our fleet is part of our wider endeavour to increase the welfare of our crew on board whilst also looking at innovative ways we can limit the costs for our clients. Adding services like this to our portfolio underscores CSM’s commitment to be a leader in innovation and performance throughout the fast-paced maritime environment.”

By using the Kadmos app, CSM is able to offer its employees personal EU-based e-wallets and debit cards that can be used worldwide. The reduction of physical cash while simplifying and digitalizing the way cash advancements are paid to crews, constitutes major developments in helping seafarers.

Additionally, the e-wallet allows seafarers to hold their money in stable currencies such as US Dollars or Euros. With Kadmos e-wallets, seafarers can transfer money easier than ever before while the debit cards tied to their accounts provide for greater flexibility when withdrawing cash or making purchases.

“CSM has long been at the forefront of innovation in the shipping industry, and we are happy that they chose Kadmos to help make their salary payment processes quicker and more efficient,” adds Kadmos co-founder Sasha Makarovych.

Latest News

Oldendorff Carriers invests in Alpha Ori Technologies

(Posted on 05/12/22)

Oldendorff Carriers, one of the world’s leading dry bulk operators, has signed a deal that will... Read more


NSG GAC's second Swedish ship agency acquisition this year

(Posted on 05/12/22)

GAC Group has acquired Finland-based ESL Shipping's Swedish subsidiary Norra Skeppningsgruppen (NSG),... Read more


Klaveness Digital etablishes Board of Directors

(Posted on 01/12/22)

Norwegian technology company Klaveness Digital has announced the formation of its first Board of Directors... Read more


WinGD cybersecurity type approval from DNV prepares owners for regulations

(Posted on 01/12/22)

Swiss marine power company WinGD has become the first marine engine designer to gain cybersecurity type... Read more


InterManager welcomes IMO commitment on enclosed space risks

(Posted on 29/11/22)

InterManager has welcomed a commitment by the International Maritime Organization (IMO) to review guidance... Read more


North P&I faces up to turbulence with premiums rise

(Posted on 29/11/22)

North P&I Club signals intention to apply a 10% General Increase in 2023/24 premium rates amid swirling... Read more


Pioneer voyage data-sharing to enable carbon emissions reductions

(Posted on 19/11/22)

China Merchants Energy Shipping (CMES), BHP and DNV have signed a Memorandum of Understanding (MOU)... Read more


Safe Bulkers orders additional retrofits of Alfa Laval PureSOx

(Posted on 19/11/22)

In recent years, Greek shipowner Safe Bulkers has retrofitted Alfa Laval PureSOx exhaust gas cleaning... Read more


Fears of Nordics perfect storm unfounded says Swedish Club

(Posted on 13/11/22)

Times are difficult but no need for despair, was the message from Tore Forsmo, Area Manager, Team Norway... Read more


CSM and Marcap to focus on vessel performance optimisation

(Posted on 13/11/22)

Columbia Shipmanagement (CSM) and Marine Capabilities (MARCAP LLC) have signed a Memorandum of Understanding... Read more


TBA GroupPort of StocktonCimbriaTelestackViganTOC Events
  • Cleveland Cascades Ltd
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Telestack

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping