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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 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Australian Coal Association
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
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