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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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- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Planning Commission, India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
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