Courage Marine Eyes Blockchain Joint Venture

Owner and operator of bulk carriers Courage Marine Group has entered into a memorandum of agreement (MOU) with Dragon Net, and its owner, to form a joint venture.

Under the deal, reached on October 20, Courage Marine will explore the possibility of cooperation by way of setting up of a joint venture with Dragon Net or acquiring a part of the equity interest in the company.

The parties have agreed upon an exclusivity period of thirty days from the date of the MOU, which is not legally binding save for the provisions for confidentiality, exclusivity and jurisdiction.

Courage Marine expected to commence due diligence works on Dragon Net upon the signing of the MOU.

Dragon Net, incorporated in the People’s Republic of China with limited liability, is owned as to 90% by Mr. Zhou and 10% by another PRC resident. The company is principally engaged in the research and development of blockchain technology, as well as asset digitisation and exchange platform.

As blockchain technology could be applied to certain principal activities of Courage Marine Group, such as marine transportation services and merchandise trading, and could “improve management efficiency, enhance security and lower information management costs,” it is expected that the development into blockchain technology can enhance its financial performance.

As the MOU is not legally binding and is subject to the entering into of the formal agreement, the possible cooperation under the MOU “may or may not proceed,” according to Courage Marine.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >