TMC Shipping announces partnership with Shipfinex to tokenise assets

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Published: Mon 2 Oct 2023, 11:38 AM

TMC Shipping, a leading global ship owner, today announced a partnership with Shipfinex FZCO, an evolutionary technology platform for ship financing, to tokenise a few of its assets. This makes TMC Shipping one of the first shipping companies in the UAE and Greece to tokenise its assets.

TMC Shipping is committed to innovation and is actively promoting the adoption and usage of technology where it creates better business efficiencies. By tokenising its assets on Shipfinex, TMC Shipping can access a new source of capital and raise funds more quickly and efficiently.

Dimitris Orfanos, CFO of TMC Shipping, highlights: “We are pleased to be partnering with Shipfinex to tokenize a few of our assets. Tokenisation allows the fractional ownership of a vessel, providing the opportunity for retail and institutional investors to digitally invest an affordable amount for their pocket in the shipping industry and allow them to exit whenever they wish. The asset-backed tokens will be tradeable on a fully regulated exchange, resulting in a secondary market for token holdings. At the same time, maritime assets tokenisation generates another source of liquidity within the maritime industry, than the conventional shipping finance alternatives. We are confident that Shipfinex's platform is an optimal route for us to tokenise our assets and raise capital efficiently from a new pool of investors. We are also excited to be working with a company that is committed to innovation and that is helping to shape the future of the ship financing industry.”

The positive role of technology in the maritime industry

Technology is playing an increasingly positive role in the maritime industry. It is helping to improve efficiency, safety, and sustainability. For example, ship owners are using technology to optimise their routes, reduce fuel consumption, and improve sustainability scores. Technology is also being used to develop new and innovative shipping solutions.

The partnership between Shipfinex and TMC Shipping is a prime example of how technology is being used to improve the Maritime industry. By tokenising its assets on Shipfinex, TMC Shipping can access a new source of capital and raise funds more efficiently from a new pool of investors. This will help TMC Shipping to grow its business and become a more competitive player in the global shipping industry. The partnership also comes at a time when the maritime industry is adopting efficient measures to solve challenges, such as rising fuel costs and environmental regulations.