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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
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Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
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Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Planning Commission, India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Australian Coal Association
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Central Java Power - Indonesia
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