Mitsui OSK Lines (MOL), IMC Group and Signal Group have become the latest big shipping names to back a Singapore maritime venture capital fund.

The three companies join ship manager Wilhelmsen and German terminal operator HHLA in backing Motion Ventures’ $30m fund aimed at disrupting the shipping and port sectors.

The financial contributions from the latest investors were not disclosed, but a spokeswoman told TradeWinds that the fund was "still open to other investors".