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Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
 Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping company announced that it is working on a deal that will be paid in Bitcoin, which is believed to be an industry first. But does Bitcoin have a future in shipping?
Firstly, what is Bitcoin? It is digital and seen as an alternative currency. Unlike the notes or coins, it largely exists online and is not printed by governments or traditional banks.
A small but growing number of international businesses, including Expedia and Microsoft, accept Bitcoins, which work like virtual tokens. Bitcoin has been likened more to a commodity than a currency, with people choosing to invest and trade in it.
The protocols behind Bitcoin limit its circulation to a maximum of 21 million. The vast majority of users now buy and sell Bitcoins as a financial investment; however, they can be exchanged for other currencies and, increasingly, products and services.
In October, a Notting Hill mansion went on sale for £17 million to be paid in Bitcoin, in what is believed to be a first for London.
“We would like to be the first company to transact in Bitcoin. It can be done quicker, more efficiently and it is much easier to deal with than using banks, which are putting in unnecessary over-regulation,” said Lev Loginov, founder of property investment company London Wall, which is selling the Notting Hill house.
However, on Wednesday, a Bank of England deputy governor warned “investors should do their homework” on Bitcoin. The cryptocurrency is now around $7,500, down from the record $11,434 (£8,500) it hit on Wednesday.
Neil Wilson, a financial analyst at ETX capital in London, called this week’s trading “a rollercoaster like nothing I’ve ever seen”. He said part of the volatility was due to small investors “with no market experience” buying and selling the coin.
“There is no way to discern what fair value is – it’s so incredibly speculative and it is so new and not properly understood,” he said.
This week, Bloomberg reported that Ukrainian bulker company Varamar is in negotiations over its first deal with a client in Bitcoin. The cryptocurrency will make it easier to do business with customers in countries affected by sanctions, and means less paperwork than traditional bank deals, Varamar said.
Russian shipbroker Interchart is also reportedly working on a Bitcoin payment system for customers who aren’t able to easily transact in dollars due to bank restrictions.
So does Bitcoin have a future in shipping? For the purposes of circumventing banking restrictions, we would suppose so. But Bitcoin is an immature market that is still finding its feet and is still subject to exploitation.
Earlier this week, Jeffrey Currie, global head of commodities research at Goldman Sachs, told Bloomberg TV that two key issues need to be resolved if the Bitcoin market is to behave like the gold market.
Firstly, Bitcoin remains difficult to value – look at the price volatility. Secondly, just as gold needs to be vaulted securely, so too does Bitcoin. Cryptocurrencies are currently vulnerable to hacking through online wallets or the user’s computer or smartphone, are subject to regulatory risk, and network and infrastructure risk during a crisis. Currie said if/when these issues are resolved then investors can begin to think of Bitcoin as a more conventional commodity market.
Looking to the future, Currie said that innovation does not lie within Bitcoin itself but within blockchain – which we think will definitely play an increasingly important role within shipping. Indeed, a number of companies have already been experimenting with the technology.
The first blockchain was conceptualised in 2008 and subsequently implemented in 2009 as a core component of Bitcoin, where blockchain serves as the public ledger for all transactions.
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. Blockchains are designed to be inherently resistant to modification of the data and are therefore secure to tampering.
In June, Maersk and IBM announced their partnership that will use blockchain technology to help transform the global supply chain. Subsequently, IBM signed a Memorandum of Understanding with Pacific International Lines and port group PSA International to expand the blockchain trade project.
Just this week, Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) announced that it has partnered with blockchain company Waves to create a distributed ledger technology platform for processing and handling shipping document submissions.
We are watching the developments in the Bitcoin market with interest – we’ve seen people make a quick buck – but blockchain is the key to the future of shipping.
Source: Alibra Shipping
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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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- Australian Coal Association
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
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