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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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
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