Marine Online Reinvents Vessels S&P Business Model

Harnessing digital transformation for today’s vessel sales and purchase. End Quote

(1888PressRelease) April 22, 2021 - COVID-19 adversely disrupted shipping; world supply chains ground to a halt by travel restrictions with numerous economies spiralling into recession. Marine Online demonstrated its resilience against the pandemic with digitalised vessel sales and purchase through one platform, with value-add services.

Marine Online replaces traditional vessel sales and purchase with technology; its smart matching system integrates data of over 200,000 ships of various makes, including new shipbuilding services from global shipyards. This facilitates effective sourcing for the best-matched vessels according to specifications, accompanied with a detailed listing of certifications and surveys. The channel also offers insightful data such as vessel real-time locations, valuation ranges, plus latest news in world maritime – to protect clients’ interests and enable informed decisions.

After the transaction, shipowners can access a comprehensive suite of maritime services at competitive rates for their newly purchased vessel, including towing, inspections or maintenance - all conducted by Marine Online’s network of global authorised service providers. Above all, shipowners have the option to promptly pay for the services using Marine Online issued credits. Throughout the whole process, both buyers and sellers are guaranteed of business confidentiality.

Sam Ng, vice president of Marine Online’s sales and purchase team remarked: “Maritime is the backbone of international trade; with 80 per cent of global trade volume and 70 per cent of global trade value are carried by sea and handled by ports worldwide. Our platform converge buyers, sellers and service providers to support the shipping ecosystem. It is our step to evolve from traditional approaches to achieve sustainable shipping success with digitalisation.”

Marine Online is a client-centric platform providing maritime professionals with value-add solutions. To date, Marine Online has transacted for both buyers and sellers worldwide including Indonesia, China, Singapore and Vietnam.

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