TMC Shipping to tokenize its assets via Shipfinex : Dubai-based ship management firm TMC Shipping has inked an agreement with UAE-based ship financing platform Shipfinex to tokenize its assets on Shipfinex’s exchange to attract investments from a fresh pool of investors, according to a statement. The tokenization agreement is one of the first for a shipping company in the UAE, Shipfinex says in the statement.

How does it work? Shipfinex’s blockchain-based token platform provides shipowners with alternative sources of financing by fractionalizing their assets, and selling them to investors as digital tokens — dubbed ‘ Marinecoins ’ — on the platform, according to a press release picked up by Marine Insight.

What they said: “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,” Shipfinex founder and CEO Vikas Pandey said.

About TMC: Established in 2010, TMC Shipping is a global dry bulk commodities shipping partner based in the UAE and Greece. The company operates a dry bulk and tanker fleet that serves weights up to 10k metric tonnes, to transport cargoes. Their tanker fleet focuses on transporting clean petroleum products, according to their website.

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