Magma Maritime launches ship finance platform

Magma Maritime launched a ship finance platform, in which through tokenization will boost fractional ownership of cargo vessels. Specifically, the company negotiates with potential investors, in order to raise an initial $200 million to purchase on modern dry bulk cargo vessels with tokenized ownership structure.

Shipping tech received $1.14b in venture funding

Thietus, technology research and innovation consultancy, launched a report according to which over $1 billion was invested in technology companies working in the maritime sector in 2019. Accordingly, the report highlights that startups and scaleups collected $1.14 billion in the shipping sector, playing a major contribution in the economy.

DFDS unveils four strategic pillars for next five years

Danish ferry operator DFDS unveiled four strategic pillars as part of its efforts to achieve market growth in the next five years. The four strategy pillars include a mix of organic as well as structural initiatives, including acquisitions, while digitalization is high on the agenda. 

Baleària commits to innovation and sustainable growth

In 2018, Baleària handled 4.320.000 passengers, an increase of 11% and 1.209.000 vehicles, an increase of 17% on its 23 routes with an overall of 1.109.000 on its five international routes. Cargo accounts for half of Baleària’s business, with a growth of 3.5%.

Inmarsat agrees $3.4 billion takeover by consortium

The British satellite communications company Inmarsat has agreed to a $3.4bn (£2.6bn) takeover by a group led by the private equity firms Apax and Warburg Pincus, becoming the latest UK technology business to be sold to investment companies.

Banks moving towards digital trade operations

Over 60% of banks surveyed in the ICC report Global Trade: Securing Future Growth have implemented, or are in the process of implementing, technology solutions to digitalise their trade finance operations. However, only 9% reported that the solutions implemented have reduced the time and costs in trade finance transactions.

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