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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- PTC India Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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