In the maritime industry, cash flow is king. Ships may move cargo across oceans, but finance teams keep businesses afloat by ensuring every receivable, payable, and invoice is managed correctly.
Yet, for many maritime finance managers, invoicing is still a nightmare. Despite the scale of global trade, most shipping companies rely on fragmented systems, manual spreadsheets, and endless email chains to track payments. The result? Costly delays, errors, and financial blind spots.
This article breaks down the core challenges maritime finance teams face in invoicing and explores how digital-first platforms like Marlo can transform these workflows.
One of the biggest challenges in maritime invoicing is the lack of integration between chartering, operations, and finance.
Chartering teams negotiate fixtures, estimates, and freight.
Operations managers track voyages, port calls, and expenses.
Finance teams handle receivables, payables, and compliance.
But these departments often use separate tools — spreadsheets, local accounting software, and email approvals. Without a single source of truth, invoices are duplicated, mismatched, or lost.
Example scenario: A chartering team records an estimated bunker cost of $450/MT. Operations update the actual cost to $470/MT, but finance never receives this update. The invoice sent to the charterer is mismatched, leading to disputes and delayed payments.
Maritime finance is complex. Between bunker fuel variations, port expenses, brokerage fees, and charter hire, mistakes are common.
Overpayments happen when:
Vendors are paid twice for the same invoice.
Estimated vs. actual voyage costs differ.
Exchange rate fluctuations impact settlement amounts.
Refunds and vendor credits are equally messy. Many accounting systems aren’t built for the nuanced overpayment flows in shipping, leaving finance managers to manually adjust balances.
Why it matters: Mishandled overpayments distort cash flow statements, inflate liabilities, and erode trust with counterparties.
Shipping is one of the most regulated global industries. Finance teams not only manage invoices but also:
Track sanctions lists (OFAC, EU, UN).
Ensure compliance with tax laws across jurisdictions.
Report in multiple formats for lenders, auditors, and regulators.
Manual compliance tracking exposes companies to risk. A single oversight — like paying a sanctioned entity — can result in penalties and reputational damage.
Fact: In 2024, several shipowners were fined for breaching sanctions due to poor compliance checks in their finance departments.
For CXOs and finance leaders, visibility is everything. Yet most maritime companies operate in the dark:
Receivables and payables are spread across multiple systems.
Finance managers can’t instantly see top debtors and creditors.
Loan covenants and credit scores are updated only quarterly or annually.
Without real-time insights, leaders make decisions reactively instead of proactively. This limits their ability to secure financing, negotiate better charter rates, or prepare for market downturns.
Paper invoices, Excel trackers, and scanned PDFs are still the norm in shipping. While other industries have digitized invoicing, many maritime companies remain stuck in manual workflows.
The hidden costs of manual invoicing:
Time wasted: Finance teams spend hours reconciling mismatched data.
Errors multiply: A single misplaced decimal can cost thousands.
Slow approvals: Payments are delayed as invoices move across email threads.
Disputes rise: Charterers and brokers challenge incorrect invoices.
The solution isn’t more spreadsheets or staff — it’s smarter workflows powered by automation and integration.
Here’s how Marlo transforms maritime invoicing:
Seamless integration with Xero, QuickBooks, Zoho Books, NetSuite, and more.
No more duplicate entries across finance systems.
Automatic reconciliation of voyage data with invoices.
Built-in workflows for refunds, vendor credits, and adjustments.
Clear audit trails for overpayment handling.
No more manual rework or distorted cash flow.
Real-time sanctions checks.
Automated credit scoring and risk reports.
Tax and regulatory reporting simplified.
Live visibility into receivables, payables, top debtors, and creditors.
Loan and covenant tracking for financial health monitoring.
Data-driven decisions for CXOs and finance leaders.
Reduce manual work by 60–70%.
Cut invoice disputes significantly.
Accelerate approval workflows.
Digital invoicing isn’t just an operational upgrade — it’s a strategic advantage.
Better liquidity management: Predict and plan cash flow more accurately.
Stronger counterparty trust: Faster, transparent invoicing builds credibility.
Competitive edge: Companies with efficient finance processes negotiate better deals with charterers, suppliers, and lenders.
In today’s volatile shipping market — with fluctuating freight rates, rising bunker costs, and tightening credit — efficient invoicing can make the difference between profit and loss.
For maritime finance managers, invoicing pain points are more than daily headaches — they are risks that directly impact profitability, compliance, and growth.
By adopting a digital-first invoicing platform like Marlo, shipowners and operators can:
Eliminate manual errors.
Automate overpayment handling.
Ensure compliance.
Gain real-time financial visibility.
Invoicing is no longer just about paperwork. It’s about building a resilient financial backbone that supports growth in a competitive industry.