Former UACC CEO Per Wistoft has launched what is claimed to be a groundbreaking global trading platform for cargoships.

French-registered company TTEX's Tonnage Exchange is a digitally based management tool that offers a way of swapping tonnage on sale, sale and leaseback or charter-party terms, it said.

It is aimed at owners, operators, oil companies, traders, banks, private equity investors and shipyards.