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Marine Online Acquires Domain

Marine Online Update! 24th February 2020 – During the peak of the internet age, Google paid $25 million to gain the exclusive rights to top-level domain “.app” from ICANN. Beating 12 competitors including Amazon, and is the most any company has paid in one of ICANN’s auctions then. After which Amazon successfully bought “.buy” at $4.6 million bid, outbidding Google. While there is more excitement in the B2C environment when it comes to high-value domain name bidding, but it may not seem dull for B2B companies. Domains owned by B2B companies may be unique or comprise of specialisation / technical terms which lead to better searchability on search engines. In comparison with other industry, digital adoption in the maritime sector may be at a slower pace, but in recent years we saw a rise in companies competing for a unique domain in the industry. This move could be due to more digital focus management who are more receptive in spending more than usual the value for a unique domain that suits the brand and their specialisation. With the decade long dip in the maritime industry and rising trend in eCommerce globally, many shipping companies went through digital transformation. They extended their business online, in hopes increase revenue by having better exposure in the digital world., being unique and had been a focal point to the industry players. Considering its high relevancy and exclusiveness, Marine Online is pleased to successfully acquired the domain – On this move, Mr Yang Ling – CEO of Marine Online share that Marine Online is committed to providing a One Stop Solution for shipowners and this domain will improve our branding and consistency. Also the term “Marine” represent a more significant service coverage as compared to “Shipping” and includes Bunkering, Chartering, Crewing, Port Agent, Ship Supplies, Ship Sale & Purchase, etc. while “Online” represents the ability to engage the above services on an online digital platform. Adding up both fully represent our business. When asked on the final transaction price, Mr Yang Ling did not disclose the exact figure but pointed out the listing price of the domain name on Alibaba Cloud exceeded 1 million RMB. Since the launch of Marine Online in May 2019, the platform had innovatively integrated over ten primary marine services and other technology applications and earn positive sign-up rate from both shipowners and suppliers. The platform now has more than 5,000 suppliers covering all major business modules such as Bunkering, Chartering, Crewing, Port Agent, On-board Marine Services, Ship Supplies, Ship Sale & Purchase and many others, leading to over 10,000 products and services listings. The platform receives approximately 500,000 page views with over US$10 Million GMV at the end of 2019. With the support from the industry players, exhibit the willingness and acceptance of eCommerce and the benefits it brings. With the acquisition of will definitely help to promote their business more effectively. Marine Online Acquires Domain

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