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Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
 Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a survey conducted by Wärtsilä Marine Business, two-thirds of shipping companies have started on their digital journey, as 69% of them are currently exploring digital solutions. Liner shipping companies are the frontrunners in the pathway to the digital era, in a process of optimizing cargo handling, maritime procurement and logistics, and port operations, with significant efficiency gains and at the same time enhancing efficiency, safety, and minimizing environmental impact. The ‘’smart ‘’maritime technologies can provide benefits in ships’ navigation and communications, in the insurance and the charter market, ship design, ship logistics, and shipbuilding. The shipping companies that are willing to embrace the change will also benefit from lower operational costs, optimizing fleet services, and crew training. In the context of COVID-19, digital technology also has the advantage of minimizing the need for human interaction, which can help increase the maritime sector’s resilience.
The high availability of data combined with technologies such as digital platforms, real-time tracking data, big data, Internet of Things (IoT), blockchain and online third-party logistics (3PL) integrations can offer considerable operational expenses (OPEX) reductions and high efficiency in operations. Digital disruption can also reduce the lack in communication between the people on the vessel and those on-shore and increase the uptime of vessels. Shipping carriers, seaports and intermodal transport providers will be able to integrate their processes with the shippers’ own globalized supply chains, providing better visibility of shipments at any given time.
Artificial intelligence (A.I.) can be already found in autonomous vessels and machine learning techniques, used for vessel’s collision avoidance or vessel’s equipment fault-finding and machinery systems condition-based maintenance, offering substantial cost savings. It is also applied to recent energy consumption monitoring and environmental regulations compliance software, as well as in platforms facilitating better decision-making at a strategic level of shipping management. Blockchain technology is also applied on several commercially available platforms, such as TradeLens, Insurwave and CargoX. Even shipping cryptocurrency services are currently under development and are expected to grow faster in the near future.
Finally, as with every other innovative technology, there are certain risks associated with the digitalization of the maritime logistical chain and maritime operations. Between February and May 2020, cyberattacks increased by 400% in the maritime industry. The lack of adequate regulatory framework on cybersecurity is still a deterring factor, which prevents further investment in digital solutions. However, important steps have been made by Classification societies, by introducing cybersecurity notations, which can be assigned on both newbuilding and in-service vessels and thus providing a safeguard against potential cyber-attacks.
In sum, with all the above-described benefits and with a potential of more than 15% OPEX reduction due to digitalization, the number of smart ships is expected to rapidly grow over the next 5 years.
By Chara Georgousi
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
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