Maersks Funding Operations in Greece Unaffected

zoom The shutdown of banks in Greece has not influenced A.P. Moller-Maersks funding operations in the country, Danish oil and shipping conglomerate said. We are not facing issues funding local operations. Maersk Line continues to receive incoming payments via bank transfers and cash at counter, Reuters reports citing a statement from Maersk. Customers who are able to transfer from accounts abroad are offered to do so to a collection account in London. Maersk added that its Greece-based employees had received their salaries ahead of the capital controls imposed after the talks between Greece and its creditors fell through last week. The country has defaulted on the payment of its USD 1.67 debt to the International Monetary Fund (IMF) which was due yesterday. However, Eurozone ministers are scheduled to discuss today a last-minute request from Greece for a new two-year bailout. As reported by World Maritime News yesterday, the Greek crisis that has seen global stock markets take a tumble on Monday is not expected to have a direct impact on shipping companies, according Morgan Stanley’s analyst Fotis Giannakoulis. Giannakoulis based its argument on the fact that majority of the shipping companies with offices in Greece are not actually incorporated in the country as they are registered in Marshal Islands or Bermuda. World Maritime News Staff