Ukrainian Shipping Company to Accept Bitcoin?

Image Courtesy: Pixabay

Digitalization seems to be ushering in a new era in all segments of the shipping industry, including payment in cryptocurrency.

Namely, a Ukrainian shipping company Varamar, is reportedly negotiating its first bitcoin deal with a client, Bloomberg writes citing Alexander Varvarenko, founder of the Odessa-based shipper.

According to Varvarenko, bitcoin, a decentralized digital currency, the value of which stands at around USD 10,000, will facilitate how the company does business.

This, in particular, relates to the countries affected by sanctions such as Pakistan, Russia, Yemen, and Qatar and clients with restricted access to bank financing. Furthermore, the cryptocurrency allows for faster transactions as it requires less paperwork when compared to doing business with commercial banks.

Even though the deal is still in its initial stage, the move points to the ever greater popularity of bitcoin across the board.

Varamar was not available for comment to World Maritime News at the moment of publication of this article.

The company was created in 2009 to offer semi-liner and tramp services for transportation of cargo by sea. Among the cargo carried are heavy and oversized units, project cargo and general cargo, ro-ro equipment and containers, steel and bulk. Its semi-liner services connect Europe to South America, Central America, Africa, Middle East, Asia and Far East and Australia.

World Maritime News Staff

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2018 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Singapore Maritime Week 2018

Singapore Maritime Week (SMW), organised annually by Maritime and Port Authority of Singapore (MPA) and attracts…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >