Germany's Reederei H Vogemann has set about raising $50m to help finance its handysize bulker newbuildings.
The Hamburg-based company will issue digital tokens to raise capital for two 40,000-dwt bulkers built in China.
The 134-year-old company is tapping into technology that makes it possible to divide equity in the ships into fractions, which can be bought and sold individually.
This process, known as tokenisation, involves splitting the equity portion of single-ship companies into tradable shares.
