Frankfurt, Hamburg 08. July 2020. Shipping company Vogemann issues the Green Ship Token – A blockchain based security. The securities prospectus was approved by the FMA (Financial Market Authority) Liechtenstein. The total issue volume of the Green Deal is USD 50 million. Institutional and private investors can participate from USD 1,000. Further key figures below.
The investment will go towards the purchase of Green Dolphin ships – eco-friendly bulk carriers that transport bulk goods such as grain, fertilizers, coal, ores, minerals, and steel as well as forest products.
The Security Token will be available on iVE.ONE, an intuitive platform for digital securities. Vogemann is the first company to issue a token on iVE.ONE, but several more tokens are coming soon. The platform guarantees compliance with regulators and maximum easy-of-use “If someone is familiar with online banking, they can also purchase digital securities without any blockchain knowledge.” CEO Phong Dao said.
The new ships will meet the highest standard for CO2 emissions – standards that only apply to new ships build after 2029. Worldwide, there are currently only two Handysize class ships that meet these standards, both of which are owned by Vogemann. Jens-Michael Arndt, Managing Director of H. Vogemann Reederei GmbH & Co. KG, explains the acquisition profile: “In particular, we are targeting so-called ‘Green Ships’. They offer the ideal combination of increased energy efficiency with reduced emission values. This not only makes them more environmentally friendly, but also ensures lower fuel costs and higher charter rates.”
The time for the Green Deal is conceivably favorable: “The worldwide fleet of Handysize bulkers is threatened by an extreme shortage, since a large number of these ships are too old, too uneconomical and thus no longer competitive”. Says Patrick Schütze, Managing Director at NeoFin Hamburg GmbH. “Purchase prices are currently at a low level. By acting with foresight, Vogemann is opting for an anti-cyclical investment and the oldest merchant motto in the world: profit lies in purchasing.” Furthermore, Security Token Offerings have thrived throughout the crisis, making it the ideal investment vehicle.
Issuing: Qualifying subordinated participation rights embodied in token
Issuing volume: 50 million tokens worth 1 USD per token
Interest rate: 8% p.a. + 50/50 profit sharing between investors and issuer, insofar as the economic success of the issuer permits.
Min. investment: USD 1,000.00
Duration: Up to 15 years
Issuer: Vogemann Green Ship Token GmbH, Hamburg
Coordination/Sales: Neofin Hamburg GmbH
iVE.ONE is a global investment and issuance platform for compliant digital securities on blockchain. With this solution, companies, who were previously only active in private markets, can now act on the capital markets through tokenization and expand their investors’ portfolios without the need of technical experience in a regulated framework. To create this framework the platform combines various national regulatory requirements with the blockchain to protect companies from money laundering and sanction risks. All market participants in the field of digital securities, such as issuers, investors, stock exchanges and others, can this way strictly comply with local and global regulations and have full control over their assets.
The shipping group H. Vogemann, Hamburg, was founded in 1886 and specializes in the business of bulk cargo transport in all its facets. The business model stands for three independent solid pillars on which the owner-managed companies occupy a unique position worldwide: The brokerage, shipping, and service companies. Through decades of experience Vogemann combines intensive, global contacts to industry, trade, and production with historically grown, worldwide relations to shipping companies.