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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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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
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Showing 1856 to 1860 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
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