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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, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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Showing 1851 to 1855 news of total 6871 |
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- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
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