COALspot.com keeps you connected across the coal world
  • THE MEoMR OF INDONESIA HAS REVISED DOWN DECEMBER 2018 COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS EXCEPT POWER PRODUCERS TO US$ 92.51 A TON
  • SHARE YOUR CORPORATE COAL & SHIPPING NEWS WITH US - NEWS@COALSPOT.COM

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
UK P&I ClubKNOWLEDGE 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.

Recent News

Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...


Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...


Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...


Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...


Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...


   1 2 3 4 5   
Showing 1 to 5 news of total 5332
News by Category
Popular News
 
Total Members : 25,664
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Vizag Seaport Private Limited - India
  • Tata Chemicals Ltd - India
  • Georgia Ports Authority, United States
  • Platts
  • SASOL - South Africa
  • Rudhra Energy - India
  • Glencore India Pvt. Ltd
  • Bangkok Bank PCL
  • London Commodity Brokers - England
  • PNOC Exploration Corporation - Philippines
  • Coal and Oil Company - UAE
  • Enel Italy
  • World Bank
  • Ernst & Young Pvt. Ltd.
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Interocean Group of Companies - India
  • ICICI Bank Limited - India
  • Medco Energi Mining Internasional
  • Directorate General of MIneral and Coal - Indonesia
  • Australian Coal Association
  • GMR Energy Limited - India
  • Romanian Commodities Exchange
  • Central Electricity Authority - India
  • Miang Besar Coal Terminal - Indonesia
  • GB Group - China
  • Rio Tinto Coal - Australia
  • Merrill Lynch Commodities Europe
  • Electricity Generating Authority of Thailand
  • Mitsubishi Corporation
  • Banpu Public Company Limited - Thailand
  • Shree Cement - India
  • Mintek Dendrill Indonesia
  • Karaikal Port Pvt Ltd - India
  • CCIC - Indonesia
  • Platou - Singapore
  • IBC Asia (S) Pte Ltd
  • Carbofer General Trading SA - India
  • McConnell Dowell - Australia
  • Agrawal Coal Company - India
  • Deloitte Consulting - India
  • Sakthi Sugars Limited - India
  • Ince & co LLP
  • Berau Coal - Indonesia
  • Kartika Selabumi Mining - Indonesia
  • GNFC Limited - India
  • EMO - The Netherlands
  • Sree Jayajothi Cements Limited - India
  • KEPCO - South Korea
  • Maersk Broker
  • PetroVietnam Power Coal Import and Supply Company
  • CESC Limited - India
  • Adaro Indonesia
  • Humpuss - Indonesia
  • Aditya Birla Group - India
  • Cargill India Pvt Ltd
  • Neyveli Lignite Corporation Ltd, - India
  • Kobexindo Tractors - Indoneisa
  • Commonwealth Bank - Australia
  • Japan Coal Energy Center
  • Jaiprakash Power Ventures ltd
  • Indonesian Coal Mining Association
  • Vale Mozambique
  • ACC Limited - India
  • Indika Energy - Indonesia
  • Latin American Coal - Colombia
  • Antam Resourcindo - Indonesia
  • Lanco Infratech Ltd - India
  • Coal Orbis AG
  • GVK Power & Infra Limited - India
  • Ind-Barath Power Infra Limited - India
  • Indonesia Power. PT
  • KPCL - India
  • The University of Queensland
  • EIA - United States
  • Sindya Power Generating Company Private Ltd
  • LBH Netherlands Bv - Netherlands
  • Core Mineral Indonesia
  • South Luzon Thermal Energy Corporation
  • Altura Mining Limited, Indonesia
  • HSBC - Hong Kong
  • Ministry of Transport, Egypt
  • Britmindo - Indonesia
  • Petrochimia International Co. Ltd.- Taiwan
  • Siam City Cement PLC, Thailand
  • TNB Fuel Sdn Bhd - Malaysia
  • The State Trading Corporation of India Ltd
  • Oldendorff Carriers - Singapore
  • Arutmin Indonesia
  • Simpson Spence & Young - Indonesia
  • Jorong Barutama Greston.PT - Indonesia
  • SGS (Thailand) Limited
  • Aboitiz Power Corporation - Philippines
  • PLN Batubara - Indonesia
  • Thriveni
  • Mitsui
  • Petrosea - Indonesia
  • PetroVietnam
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Vedanta Resources Plc - India
  • Bayan Resources Tbk. - Indonesia
  • ING Bank NV - Singapore
  • bp singapore
  • Price Waterhouse Coopers - Russia
  • Salva Resources Pvt Ltd - India
  • Indo Tambangraya Megah - Indonesia
  • Permata Bank - Indonesia
  • Sical Logistics Limited - India
  • Rashtriya Ispat Nigam Limited - India
  • Alfred C Toepfer International GmbH - Germany
  • Gujarat Mineral Development Corp Ltd - India
  • Panama Canal Authority
  • Jindal Steel & Power Ltd - India
  • Toyota Tsusho Corporation, Japan
  • SMG Consultants - Indonesia
  • Borneo Indobara - Indonesia
  • Credit Suisse - India
  • Eastern Coal Council - USA
  • Eastern Energy - Thailand
  • Chamber of Mines of South Africa
  • Bhushan Steel Limited - India
  • Power Finance Corporation Ltd., India
  • OPG Power Generation Pvt Ltd - India
  • Argus Media - Singapore
  • Tamil Nadu electricity Board
  • Parliament of New Zealand
  • Africa Commodities Group - South Africa
  • Formosa Plastics Group - Taiwan
  • Kapuas Tunggal Persada - Indonesia
  • Indian School of Mines
  • Leighton Contractors Pty Ltd - Australia
  • RBS Sempra - UK
  • Fearnleys - India
  • Star Paper Mills Limited - India
  • The Treasury - Australian Government
  • Indorama - Singapore
  • Bangladesh Power Developement Board
  • Economic Council, Georgia
  • CoalTek, United States
  • Surastha Cement
  • Ministry of Mines - Canada
  • Shenhua Group - China
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Renaissance Capital - South Africa
  • Peabody Energy - USA
  • Barclays Capital - USA
  • Clarksons - UK
  • IHS Mccloskey Coal Group - USA
  • Essar Steel Hazira Ltd - India
  • IEA Clean Coal Centre - UK
  • Kohat Cement Company Ltd. - Pakistan
  • Inco-Indonesia
  • Total Coal South Africa
  • Metalloyd Limited - United Kingdom
  • NALCO India
  • Vijayanagar Sugar Pvt Ltd - India
  • TNPL - India
  • PLN - Indonesia
  • GAC Shipping (India) Pvt Ltd
  • Parry Sugars Refinery, India
  • Coaltrans Conferences
  • Cemex - Philippines
  • CNBM International Corporation - China
  • Lafarge - France
  • Riau Bara Harum - Indonesia
  • Binh Thuan Hamico - Vietnam
  • Moodys - Singapore
  • Bulk Trading Sa - Switzerland
  • Jatenergy - Australia
  • Reliance Power - India
  • Madhucon Powers Ltd - India
  • Wood Mackenzie - Singapore
  • Goldman Sachs - Singapore
  • Directorate Of Revenue Intelligence - India
  • KOWEPO - South Korea
  • Intertek Mineral Services - Indonesia
  • Sinarmas Energy and Mining - Indonesia
  • UBS Singapore
  • Sucofindo - Indonesia
  • Karbindo Abesyapradhi - Indoneisa
  • CIMB Investment Bank - Malaysia
  • Gresik Semen - Indonesia
  • ANZ Bank - Australia
  • Orica Mining Services - Indonesia
  • globalCOAL - UK
  • Tata Power - India
  • Uttam Galva Steels Limited - India
  • ETA - Dubai
  • Vitol - Bahrain
  • Dalmia Cement Bharat India
  • Marubeni Corporation - India
  • Adani Power Ltd - India
  • KPMG - USA
  • The India Cements Ltd
  • Merrill Lynch Bank
  • Makarim & Taira - Indonesia
  • Maruti Cements - India
  • Thai Mozambique Logistica
  • Anglo American - United Kingdom
  • Larsen & Toubro Limited - India
  • Pinang Coal Indonesia
  • World Coal - UK
  • Bukit Makmur.PT - Indonesia
  • Timah Investasi Mineral - Indoneisa
  • Bhoruka Overseas - Indonesia
  • Thailand Anthracite
  • IMC Shipping - Singapore
  • Ambuja Cements Ltd - India
  • Gujarat Sidhee Cement - India
  • Mercator Lines Limited - India
  • Edison Trading Spa - Italy
  • Planning Commission, India
  • Maheswari Brothers Coal Limited - India
  • GHCL Limited - India
  • Savvy Resources Ltd - HongKong
  • Gujarat Electricity Regulatory Commission - India
  • Samtan Co., Ltd - South Korea
  • Energy Link Ltd, New Zealand
  • Minerals Council of Australia
  • Chettinad Cement Corporation Ltd - India
  • Wilmar Investment Holdings
  • Xindia Steels Limited - India
  • Meenaskhi Energy Private Limited - India
  • JPower - Japan
  • Kobe Steel Ltd - Japan
  • Cardiff University - UK
  • PTC India Limited - India
  • IOL Indonesia
  • Trasteel International SA, Italy
  • Cement Manufacturers Association - India
  • SUEK AG - Indonesia
  • Cigading International Bulk Terminal - Indonesia
  • Freeport Indonesia
  • Billiton Holdings Pty Ltd - Australia
  • Asian Development Bank
  • Samsung - South Korea
  • Pendopo Energi Batubara - Indonesia
  • Attock Cement Pakistan Limited
  • Central Java Power - Indonesia
  • Bukit Asam (Persero) Tbk - Indonesia
  • Qatrana Cement - Jordan
  • Barasentosa Lestari - Indonesia
  • Coastal Gujarat Power Limited - India
  • Siam City Cement - Thailand
  • Bukit Baiduri Energy - Indonesia
  • Globalindo Alam Lestari - Indonesia
  • Videocon Industries ltd - India
  • Bank of America
  • Deutsche Bank - India
  • TANGEDCO India
  • Maharashtra Electricity Regulatory Commission - India
  • Kideco Jaya Agung - Indonesia
  • ASAPP Information Group - India
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • TeaM Sual Corporation - Philippines
  • Thermax Limited - India
  • New Zealand Coal & Carbon
  • Sojitz Corporation - Japan
  • McKinsey & Co - India
  • Mercuria Energy - Indonesia
  • Heidelberg Cement - Germany
  • U S Energy Resources
  • Indogreen Group - Indonesia
  • India Bulls Power Limited - India
  • WorleyParsons
  • Australian Commodity Traders Exchange
  • NTPC Limited - India
  • Geoservices-GeoAssay Lab
  • Infraline Energy - India
  • Kumho Petrochemical, South Korea
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Asia Cement - Taiwan
  • Bhatia International Limited - India
  • Bank of China, Malaysia
  • Coal India Limited
  • White Energy Company Limited
  • J M Baxi & Co - India
  • European Bulk Services B.V. - Netherlands
  • Xstrata Coal
  • Kaltim Prima Coal - Indonesia
  • Inspectorate - India
  • VISA Power Limited - India
  • Bharathi Cement Corporation - India
  • BNP Paribas - Singapore
  • Thiess Contractors Indonesia
  • Independent Power Producers Association of India
  • Singapore Mercantile Exchange
  • Coeclerici Indonesia
  • Orica Australia Pty. Ltd.
  • JPMorgan - India
  • Runge Indonesia
  • Manunggal Multi Energi - Indonesia
  • Port Waratah Coal Services - Australia
  • Asmin Koalindo Tuhup - Indonesia
  • MEC Coal - Indonesia
  • Ministry of Finance - Indonesia
  • Maybank - Singapore
  • UOB Asia (HK) Ltd
  • PowerSource Philippines DevCo
  • Bahari Cakrawala Sebuku - Indonesia
  • Straits Asia Resources Limited - Singapore
  • Tanito Harum - Indonesia
  • International Coal Ventures Pvt Ltd - India
  • Idemitsu - Japan
  • MS Steel International - UAE
  • Malabar Cements Ltd - India
  • Global Coal Blending Company Limited - Australia
  • BRS Brokers - Singapore
  • Cosco
  • Malco - India
  • OCBC - Singapore
  • DBS Bank - Singapore
  • Mjunction Services Limited - India
  • Standard Chartered Bank - UAE
  • Kalimantan Lumbung Energi - Indonesia
  • Grasim Industreis Ltd - India
  • Thomson Reuters GRC
  • Holcim Trading Pte Ltd - Singapore
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Mitra SK Pvt Ltd - India
  • Russian Coal LLC
  • SRK Consulting
  • Posco Energy - South Korea
  • Arch Coal - USA
  • Gupta Coal India Ltd
  • Indian Oil Corporation Limited
  • Ceylon Electricity Board - Sri Lanka
  • Mechel - Russia
  • APGENCO India
  • Krishnapatnam Port Company Ltd. - India
  • Coalindo Energy - Indonesia
  • Noble Europe Ltd - UK