Why Fishtail trusts Vesseltracker to power its sustainable finance platform for suppliers and traders
It’s hard being a shipper; as industries consolidate and become increasingly dominated by a few big players, buyers are taking advantage of their stronger negotiating position to demand Net-60, Net-90 and even Net-120 payment terms. Unsurprisingly, shippers – suppliers, exporters and importers – often struggle to maintain enough working capital to keep pace with increasing demand or even to keep their business afloat, and many need to borrow money to cover their cash flow needs.
Fishtail, a new fintech platform, acts as an intermediary, immediately financing a trade so that shippers can continue operating without significant working capital being tied up. The loan’s terms they offer are designed to incentivize climate-friendly practices where Fishtail provides an initial interest rate based on their estimate of the shipment’s CO2 emissions, then monitors its journey and charges lower interest for greener performance.
For Fishtail to accurately predict CO2 emissions in the shipping industry, they needed the best Automatic Identification System (AIS) data available, which led them to Vesseltracker, a Wood Mackenzie business.
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