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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
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