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