Wallis Boosts International Trade - 1st October 2001

Colchester based Wallis Shipping has teamed up with a leading High Street bank to help Britain’s importers and to boost international trade. Wallis Shipping has chosen HSBC as its partner to offer funding worth millions of pounds and lines of credit for importers into the UK.

The bank will arrange the financing while Wallis handles all the paperwork and logistics that are needed to move cargo from one side of the globe to the other. HSBC’s Trade Services office is working closely with Wallis Shipping to ensure clients have a one-stop shop when transporting freight across the world and into the UK.

Managing Director of Wallis Shipping, Stuart Gregory, said: “Quite often clients will have goods to ship to the UK but require funding to cover the gap between paying the overseas supplier and receiving payment from the customer. Import finance is one of HSBC’s core activities, developed principally at the bank’s Hong Kong/Far East offices for the needs of its trading customers. Finance can be tailored to meet the specific needs of the clients’ trade cycle. It can cover the shipment, stock, and debtor period if required, and our new working relationship with this bank means that we can offer the whole solution, whichever port in the world the goods are sent from to the UK. Our clients can be sure that the combined expertise of Wallis Shipping and HSBC can provide a hassle free result. This is a real boost for importers and will be excellent for Britain and her traders.”

With Christmas approaching Wallis is already getting orders to ship toys and games across to the UK originating mostly in the Far East.

BBC Radio Essex - 9/10/01 & East Anglian Daily Times - 6/10/01