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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, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
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