Dubai, U.A.E, September 28, 2023, Shipfinex FZCO , a leading technology platform for ship financing, today announced its first tokenization customer, TMC Shipping, a leading global ship owner. TMC Shipping has agreed to tokenize a few of its assets on Shipfinex, making it one of the first shipping companies in the UAE and Greece to do so.
Shipfinex is one of the first few technology platforms in the ship financing domain with an aim to help ship owners with alternative sources of financing. The company’s tokenization platform allows ship owners to raise capital by fractionalizing their assets and selling them to investors in the form of digital tokens. This provides ship owners with access to a wider range of investors and makes it easier for them to raise capital quickly and efficiently.
Capt. Vikas Pandey, Founder and CEO of Shipfinex:
“We are excited to announce TMC Shipping as our first tokenization customer. TMC Shipping is a leading shipping company in the UAE and Greece with a strong commitment to innovation. We are confident that our tokenization platform will help TMC Shipping to achieve its business goals and raise capital more quickly and efficiently. We believe that tokenization has the potential to revolutionize the ship financing industry and make it easier for ship owners to access the capital they need to grow their businesses. This is the first of many assets from a number of other shipowners that we are currently in firm discussion with to tokenize on our platform. We expect this market to grow rapidly over the next few years making it a win-win for both investors and the maritime community”
Mr. Dimitris Orfanos, CFO of TMC Shipping:
“We are pleased to be partnering with Shipfinex to tokenize a few of our assets. Tokenization allows the fractional ownership of a vessel, providing the opportunity to retail and institutional investors to digitally invest an affordable amount for their pocket in shipping industry and give them the opportunity 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 tokenization 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 tokenize 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.”
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 optimize 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 tokenizing its assets on Shipfinex, TMC Shipping is able to 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.
About Shipfinex FZCO
Shipfinex FZCO is a leading technology platform for ship financing based in the United Arab Emirates (UAE). The company was founded by a team of experienced maritime professionals with a proven track record in the Maritime shipping and technology industries. Shipfinex’s mission is to make ship financing more accessible and efficient for ship owners. The company’s tokenization platform allows ship owners to raise capital by fractionalizing their assets legally and offering them to investors globally in the form of digital tokens.
About TMC Shipping
TMC Shipping is an established global ship owner based in the United Arab Emirates (UAE) and Greece with a strong commitment to innovation. The company was founded in 2010 and has since grown to become one of the leading shipping companies in the region. TMC Shipping is actively promoting the adoption and usage of technology where it creates better business efficiencies. The company is committed to providing its customers with the highest quality of services and to being a leader in the shipping industry.
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