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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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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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