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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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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
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Showing 1826 to 1830 news of total 6871 |
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- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
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