Qwest Freight

Qwest Finance provides access for shipowners and charterers to flexible and competitive marine receivable financing.

The problem

Shipowners and operators frequently have significant sums of freight earned from high quality counterparties outstanding for a significant time.

Qwest Freight aids liquidity by allowing these receivables to be realised more readily. 

The solution

  • Qwest Freight will facilitate access to an online platform of approved banks, financial institutions and funds.

  • Transactions are made through a “lockbox” account held in the client’s name but accessed through Qwest Freight.

  • Once the client has been on-boarded and approved by selected buyers, they upload their freight invoices together with a brief contract summary and launch a transaction to a tailored audience.

  • The buyers bid to purchase the receivables offering rates and terms for the client to accept or reject.

  • Once a bid is accepted, payment is immediate. When the charterers pay, the buyer is paid through the lockbox account.

The Benefits

  • The finance is provided as an additional source of off-balance sheet liquidity usually at a lower cost than corporate borrowing rates.

  • Can be done anonymously so that the counterparty does not need to know that the receivables are being financed.

  • There are no sign-up, subscription, or servicing costs for use of the platform and fees are only paid when the sale contract is executed.

Who is it for?

  • Shipowners and operators
  • Charterers acting as disponent owners.