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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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Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
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