We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
 KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscielecki explains how the technology can be hugely beneficial for the shipping sector:
“Blockchain is the new buzzword in the shipping industry that is increasingly difficult to get away from. Many within the sector, however, are still wondering what blockchain technology is and how it works.
Blockchain explained
“Blockchain is essentially an online communication protocol allowing users who are interdependent to participate in a transaction, without any one user having more control over the transaction than the other users. All parties to the transaction have access to the same information and no one party can attempt to amend or vary the transaction unilaterally without acquiring the permission of the others.
“The whole process is guarded by sophisticated cryptography and the exact copies of the transaction’s ledger are distributed amongst the participants, making it is virtually impossible for the transaction to be manipulated by an external party.
Blockchain and shipping
“Blockchain could be harnessed in any scenario where multiple parties have to exchange a plethora of information in order to achieve an overarching goal, for example, the shipping of goods.
“For goods to be moved from one continent to another, numerous parties have to reach agreements by entering into contracts which will govern the various steps of this process. Some of these agreements, such as sales contracts, will provide an overarching roadmap for the desired outcome. Other contracts such as charter parties and bills of lading will then have to be entered into to facilitate this performance.
“Blockchain can enable a conversion of the contractual terms and conditions into self-executable computer software which automatically implements and polices the terms and conditions between the parties to the contract. As the technology progresses, the prospects are that natural language contracts might even be done away with completely and be replaced with a contract made entirely of code.
“The potential benefits from using smart contracts in shipping are substantial. Smart contracts can have a transformative effect on the maritime industry, leading to increased accuracy, security and transparency, as well as decreased reliance on intermediaries and savings of time.
“The predicted overall impact of blockchain and smart contracts on trade is significant. The World Economic Forum estimates that 10% of GDP will be stored on blockchain by 2027. . The first contracts to benefit from blockchain technologies are likely to be main underlying agreements like sales or trade contracts, charter parties and bills of lading.
Legal hurdles
“Due to the cross jurisdictional nature of the majority of blockchain contracts, basic contractual concepts such as ‘ownership’ or ‘title to goods’ can put hurdles in the way of their execution. The recognition of blockchain contracts by key jurisdictions will be crucial to securing parties’ rights of enforcement.
“However, electronic means for transmitting and exchanging information have been available for some time. Most jurisdictions therefore, no longer challenge the possibility for contracts to be created electronically.
“As the smart contracts technology is still in its infancy, we are yet to see how legal issues surrounding it will be resolved. Nevertheless, smart contracts will gradually become pervasive in the wider maritime industry. They offer a practical solution to issues which have negatively impacted trade for years. In time, law and regulations will undoubtedly develop to accommodate this impending commercial revolution and the uncertainties surrounding smart contracts will then gradually diminish.”
Source: UK P&I Club
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
|
|
|
Showing 51 to 55 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bharathi Cement Corporation - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
|
| |
| |
|
