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Mr ‘Phuket Seasted’ is back with his Crypto Cruise Ship

Thaiger

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From the man who was chased away from the Phuket offshore ‘Seasted’ by the Royal Thai Navy, along with his Thai girlfriend, the very same Chad Elwartowski is now launching a Crypto Cruise Ship. The company he was representing at the time, Ocean Builders, is again behind the new venture.

Just to recap from April last year…

“A couple has successfully set up a ‘Seastead’ near Phuket. Seasteading is aiming to build floating societies with “significant political autonomy”. Nearly half the world’s surface is unclaimed by any nation-state, and many coastal nations can legislate “seasteads” in their territorial waters (like a “homestead” but wetter).

Website ‘Bitcoin.com’ and ‘Ocean.builders’ report that the couple Chad Elwartowski and his Thai girlfriend Nadia Summergirl are are the first seasteaders who established a small seastead 12 nautical miles off Phuket. Most of the construction of the Seasteading was built on the island of Phuket. The installation in the sea started on January 9.

Mr Elwartowski reveals that the reason that they have chosen to settle near Phuket as the construction price is cheap. The sea is suitable for the establishment as waves are not too high and can attract many tourists.”

Cut to the chase… the Thai Government weren’t too chuffed about the establishment of a floating home, anchored in position, just off the coast of Phuket, along with Ocean Builders’ claims of ‘sovereignty’, etc, etc. The basically told the couple to take their ‘seastead’ and leave the country. You can read more about the fiasco HERE. The Navy later towed the large aluminium can back to shore and sold it for scrap.

“American Chad Elwartowski and his Thai partner, Nadia Supranee Thepdet, say they are on the run from police in Thailand after the government has accused the couple of trying to lay claim to Thai maritime territory with their ‘seastead’, a maritime house considered to be a permanent dwelling at sea off Phuket.”

Mr 'Phuket Seasted' is back with his Crypto Cruise Ship | News by Thaiger

At the time Ocean Builders said Mr Elwartowski and his girlfriend were simply volunteers who would live in the seasted as part of the experiment. Now it emerges that Chad Elwartowski is indeed the Chief Operations Officer of Ocean Builders.

A media release from Ocean Builders at the time… “Chad and Nadia were volunteers excited about the prospect of living free. They took pictures and videos of the whole process and posted it on social media. They spent a few weeks on the seastead and documented their adventure.

They were in no way involved in the design, construction, decision on where it was located or any funding for the construction of the seastead.
The team surrounding the project were early adopters of bitcoin, and with wealth acquired that way it has spent around US$150,000 on the project.”

Now Chad is back, along with his crypto investors. They’ve licked their wounds from all the undue media attention 18 months ago in Thailand and are launching their latest sea-going project the The Crypto Cruise Ship… “a residential gathering place for entrepreneurs, researchers, and expats, will be launching in January 2021. Cabins go up for auction November 5th.”

“Out of adversity comes opportunity, so they say, and a group of marine engineering entrepreneurs is taking advantage of the current downturn in the cruising industry to expand their operations in Panama.”

“The Crypto Cruise Ship is being prepared to set sail from the Mediterranean and anchor in the Gulf of Panama. The 804 ft ship (245 metres), recently purchased from a major cruise line, is to be named MS Satoshi. It includes 777 cabins with a capacity of 2020 people plus crew and crew quarters. Facilities include multiple restaurants, a theatre, casino, gym and wellness areas. The ship will be used for residency, tourism, research, and office space. It will also provide an incubator environment for entrepreneurs.”

“Cabins will be sold in an upcoming auction to those interested in owning a permanent residence on the ship. Vacation rentals will also be available.”

“The cabins will be sold by Ocean Builders, the company currently building floating homes on the Caribbean coast of Panama. Ship operations will be run by a spinoff company, Viva Vivas.”

“The ship will be anchored a 30-minute ferry ride away from Panama City in the Gulf of Panama. While Ocean Builders recently began construction of its floating, off-grid SeaPod homes on the Caribbean side of Panama, they plan on housing employees on the ship as they begin building on the Pacific side as well. Their goal is to create a floating community for the advancement of ocean technology, engineering, sustainable living, and experimentation.”

So far the venture is off to a rocky start with our quick check of their website coming up with this…

Mr 'Phuket Seasted' is back with his Crypto Cruise Ship | News by Thaiger
“The MS Satoshi will become an incubator for innovation and entrepreneurship. It will be a gathering place for digital nomads, cryptocurrency enthusiasts, expats, researchers, and sustainability entrepreneurs.”

As key investor Chad Elwartowski, COO of Ocean Builders, says, “We look forward to creating a hub for technology and innovation here in Panama. Our goal is to figure out how to live sustainably on the sea and chart new waters in this new frontier.”

“200 cabins will be available in the first round of the auction, which begins November 5th and ends November 28th. Cabins are tentatively priced between $25,000-$50,000. The ship will be ready for residents to move in by early 2021.”

Best wishes to the Good Ship MS Satoshi. May the waves be left behind and fair winds carry the passengers to new and exciting adventures.

 

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2 Comments

2 Comments

  1. Avatar

    Toby Andrews

    Friday, October 9, 2020 at 5:20 pm

    Yes but he is not back at Phuket. He has learned his lesson about Thailand and is aiming to set up in Panama.

  2. Avatar

    David

    Wednesday, October 14, 2020 at 1:01 am

    Small fry shysters and unicorn peddlers in competition with the biggest mafiosi on the planet… i.e. “governments”? It won’t end well.

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Business

Government will not re-capitalise struggling Thai Airways

Maya Taylor

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PHOTO: Wikimedia

The State Enterprise Policy Office says the government will not back a billion-baht cash injection for Thai Airways. The national airline is currently been dragged through bankruptcy proceedings.

Pantip Sripimol from the SEPO says the Thai Finance Ministry will not re-capitalise the carrier, although it remains its largest shareholder. The Bangkok Post reports that there are concerns Thai Airways could become a state enterprise once more if the ministry were to assume a majority stake once more.

Last September, the Finance Ministry reduced its stake in the national airline to less than 50%, in an effort to facilitate the debt-rehabilitation process. As a result, the carrier is no longer a state-owned enterprise and it’s understood a number of cabinet ministers are concerned that, should the airline regain its status as a state enterprise, the government would have to guarantee a billion-baht loan to ensure its survival.

The Bangkok Post reports that both the Finance Minister, Arkhom Termpittayapaisith, and Deputy PM, Supattanapong Punmeechaow, both support re-establishing the airline as a state enterprise. They argue that doing so would improve its financial situation and provide more leverage for negotiating with creditors. Such a move would mean the Finance Ministry becoming a majority shareholder once again.

As it is, the airline’s bankruptcy proceedings have been taken up with renegotiating with creditors – mostly aircraft lessees. The majority of Thai Airways’ fleet remains grounded and gathering dust, parked at Suvarnabhumi airport.

However, Pantip says the ministry will not re-capitalise the airline and is prepared to reduce its shareholding if other investors purchased additional shares. The ministry currently has a 49.9% stake in Thai Airways, with Pantip saying it would be difficult to justify a further cash injection to shareholders.

With the airline now operating as a private business, the government is no longer obliged to prop it up monetarily, nor is the Finance Ministry obliged to offer financial help to a private company, despite being its largest shareholder.

On Wednesday, creditors will meet to discuss the airline’s debt restructuring plan and decide if they are to accept it.

SOURCE: Bangkok Post

 

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Business

Thailand jumps on the electric bandwagon, aims to become EV production hub

Maya Taylor

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PHOTO: Flickr / JCT 600

The Thai government has ambitious plans to turn the Kingdom into a Southeast Asian hub for the manufacture of electric vehicles. Nikkei Asia reports that big companies in Thailand are preparing to invest substantially in the greener mode of transport, after the National Electric Vehicle Policy Committee suggested a new manufacturing target could mean half of Thailand’s auto-production is made up of electric vehicles by 2030.

The message to car manufacturers and energy suppliers is to grab this opportunity to invest in the necessary infrastructure to support electric vehicles, as the number of drivers using such cars is expected to rise significantly. The Thailand Board of Investment says that between 2017 and 2019, investment in EV production and its infrastructure reached 79 billion baht. That figure is expected to rise at a much quicker rate over the next 3 years.

According to the Nikkei Asia report, Toyota was the first car manufacturer to make EVs in the Kingdom, with Chinese manufacturers becoming more competitive in recent years. The latest Chinese firm to join the EV revolution is Great Wall Motor, which plans to launch electric vehicles this year. The number of EV manufacturers in Thailand is also growing, but Surapong Phaisitpattanapong from the Federation of Thai Industries’ Automotive Industry Club says they still need to overcome serious supply chain challenges. He says manufacturers of the traditional internal combustion engine now find themselves trying to supply parts for electric vehicles, including batteries, motors and converters.

“It’s all about the economy of scale. If the number of EV users goes up substantially, it would be worth investing, and everyone, including auto parts makers, would be ready to switch to producing EV parts, and that would create supply chains that are ready for the development of EVs, but it will take time.”

Surapong points out that the government hasn’t provided enough subsidies to encourage the purchase of electric vehicles, saying there needs to be more of an incentive to deliver the sales boost needed.

“We think there should be a more direct subsidy for EV buyers to promote EVs, but we haven’t seen the government issue any kind of subsidies like that yet.”

SOURCE: Nikkei Asia

 

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Coronavirus (Covid-19)

Pfizer sees 45% increase in net income and revenue, as critics point to disparity in global vaccine availability

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Stock photo via Flickr

After seeing a 45% increase in net income from last year, Pfizer, the pharmaceutical giant, is largely increasing its projected profits for this year. And, the increase is undoubtedly due to the high amount of Covid-19 vaccine sales, in which the company says is shaping up to provide a “durable” revenue stream.

The company says this year’s first quarter profits featured almost 1/4 of sales coming from the Covid vaccines. As it is teaming with German partner BioNTech, the company is set to increase its vaccine production, putting it on track to see US$26 billion in revenues from the vaccine this year. The new number-crunching is an increase from the US$15 million that was projected in February of this year.

But the profits are triggering criticism as governments are feeling pressured to ensure vaccines are available in poorer countries. Chief Executive Albert Bourla, says the company is holding dialogues with “basically all governments of the world,” and it is awaiting approval from the US for 12 to 15 year olds to be able to receive the jab.

The company is also studying the efficacy of giving inoculations, or boosters, every 6 or more months after the second dose- in a move that signals even more profits on the horizon. Bourla says this scenario would allow the company to be both a leader and a financial beneficiary.

“It is our hope that the Pfizer-BioNTech vaccine will continue to have a global impact by helping to get the devastating pandemic under control and helping economies around the world not only open, but stay open.”

But last month, World Health Organisation chief Tedros Adhanom Ghebreyesus, cited a “shocking imbalance in the global distribution of vaccines” and emphasised that the WHO’s Covax programmes must be fortified soon to allow poorer nations to gain access to the inoculations.

Zain Rizvi, a law and policy researcher at progressive Public Citizen advocacy group, says Pfizer’s increase in profits show the need for governments to take action to save lives.

“Pfizer is cashing in on the crisis and hoarding technology, even as billions of people around the world go without a vaccine. Pfizer’s profiteering shows the urgent need for governments to step-in. Governments should require Pfizer to share technology with manufacturers around the world to help ramp up global production.”

Pfizer has defended its vaccine pricing policy, saying it has moderated the cost to encourage broad access through the pandemic phase that could continue into the year 2022. But with a net income increasing by 45%, at US$4.9 billion over the past year and revenues jumping the same percentage to US$14.6 billion, critics point towards the continued disparity of vaccine availability between poor and rich countries. Pfizer’s shares have also increased by .3% to US$39.95.

SOURCE: Bangkok Post

 

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