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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- The University of Queensland
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
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