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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, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Planning Commission, India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Romanian Commodities Exchange
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