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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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Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
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