When cargo outpaces cash: shipping's hidden bottleneck

Kevin Conabree, of Balbao Corp, suggests it is time for the maritime sector to wake up to the opportunities of electronic money

As disruption around the Strait of Hormuz puts maritime chokepoints, fuel supply and vessel routing back at the centre of the global trade debate, shipping is once again being judged by what can be seen: the ports under pressure, the vessels waiting offshore and the canals under strain. However, one of the lesser discussed risks in maritime trade sits in the financial layer beneath them: cross-border payments, trade documents and settlement processes that still fail to move at the speed of commerce.