Singapore authorities have awarded Thome Ship Management a grant to help create an Amazon-like marketplace for the shipping sector.

The funding will help finance the development of a smart digital e-marketplace platform to create an ecosystem. Financial terms were not disclosed.

Thome said the concept is designed to benefit the whole maritime supply chain and foster lasting partnerships between suppliers and the platform’s consortia members.

The new platform will streamline often very cumbersome procedures and protocols by creating a digital marketplace where suppliers and purchasers will have full transparency, the ship manager said.