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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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Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
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- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
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