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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, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- London Commodity Brokers - England
- Edison Trading Spa - Italy
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
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