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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, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
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- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
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