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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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Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
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