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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, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
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- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- VISA Power Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
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