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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Australian Coal Association
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Planning Commission, India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
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