Cash to Master (CTM) is a financial transaction in the maritime industry where a designated amount of cash is provided by the ship’s agent or operator to the ship’s captain (Master) while the vessel is at a port. The cash is meant to cover the vessel’s expenses and the needs of the crew during their stay at the port.
The cash provided to the Master is used to pay for various items and services, such as port fees, pilotage charges, fresh provisions, fuel, and other necessities. It can also be used to cover crew welfare expenses, such as medical treatment, shore leave allowances, and other personal needs.
The amount of cash to be provided to the Master is usually agreed upon between the ship’s agent and the ship’s operator in advance, based on the estimated expenses during the vessel’s stay at the port. After the expenses are incurred, the Master is required to provide an account of how the cash was utilized and return any remaining funds or provide additional funds if necessary. This process helps to streamline the financial transactions and logistics for the vessel while it is in port.