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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, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
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Showing 1861 to 1865 news of total 6871 |
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- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- The University of Queensland
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
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