Investors will be able to buy fractional stakes in commercial vessels using tokens via a new alternative financing platform that is being backed by members of the Hadjipateras family.

London-based Magma Maritime is targeting investment from existing shipowners and institutional players seeking exposure to the shipping sector.

Magma claims to be the first platform to provide alternative ship finance through tokenisation.

The platform said it is in “advanced negotiations” with potential investors to raise an initial $200m, with which it will seek to purchase modern secondhand bulkers, ideally no more than five years old.