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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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Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
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- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
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