Track Record

Ethra’s maritime platform currently includes three operational dry bulk carriers acquired and operated through segregated portfolio structures within its regulated private investment framework.

These vessels are commercially active and managed under established technical and commercial management arrangements. They reflect Ethra’s demonstrated capabilities across:

• Maritime asset origination and acquisition

• Structured vessel financing

• Operational fleet management

• Institutional governance and reporting standards

The vessels are held within their respective segregated investment vehicles and form part of Ethra’s private equity maritime strategy. They are not tokenized and are not part of the SHIP RWA framework described in this whitepaper.

The SHIP ecosystem represents a separate digital infrastructure layer designed to integrate Web3 architecture with maritime-aligned operations, while maintaining clear structural separation from existing private investment portfolios.

This distinction ensures:

• No ownership linkage between SHIP and existing vessels

• No revenue entitlement or asset claim for token holders

• Clear segregation between private investment vehicles and digital infrastructure initiatives

Ethra’s established operational platform provides execution credibility and sector expertise, forming the foundation upon which the SHIP digital ecosystem is being developed.