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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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Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
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