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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- The University of Queensland
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