HD Hyundai units ink MOU for maritime safety using AI

Industry

Published: 27 Jun. 2024, 17:49 Updated: 27 Jun. 2024, 17:51

HD Hyundai units ink MOU for maritime safety using AI

From left, POS SM CEO Kim Dong-gyun, HD Marine Solution CEO Lee Ki-dong, Pan Ocean CEO Ahn Joong-ho, HD Korea Shipbuilding & Offshore Engineering CEO Kim Sung-joon and American Bureau of Shipping’s head of sales in Korea Kim Seong-hun pose after signing a memorandum of understanding at HD Hyundai’s Global R&D Center in Seongnam, Gyeonggi, on Thursday. [HD HYUNDAI]

HD Hyundai’s shipbuilding and ship aftermarket arms signed a memorandum of understanding (MOU) with domestic shipping companies and the American Bureau of Shipping (ABS), a maritime classification society, to collaborate on the integration of AI to improve maritime safety and reduce carbon emissions.

Executives from HD Korea Shipbuilding & Offshore Engineering (KSOE) — of which HD Hyundai owns 30 percent — and HD Hyundai Marine Solution, shipping companies Pan Ocean and POS SM, and the ABS inked the deal on Thursday, HD Hyundai said.

Under the deal, an AI-powered solution developed by KSOE will be installed in an LNG vessel currently under construction by HD Hyundai Heavy Industries for Pan Ocean. The solution consists of two monitoring systems that inspect the ship’s essential equipment in real-time and alerts a running ship’s operators of potential accidents or emergency situations.

HD Hyundai Marine Solution’s carbon emissions-calculating technology will also be used by Pan Ocean under the MOU. Named Ocean Wise, the system uses big data and algorithms to measure and predict carbon emissions from a vessel based on its location, and recommends sea routes that minimize fuel consumption. Pan Ocean plans to decrease carbon emissions and cut down on operational expenses by taking such routes, according to HD Hyundai.

The ABS will certify Ocean Wise based on its performance. HD Hyundai looks to receive automatically approved documents from the ABS that prove its adherence to the EU Emissions Trading System by using carbon emissions measurements made by Ocean Wise.

The ABS sets and verifies standards for the design, construction and maintenance of assets in the marine, offshore and gas industries. The Texas-based multinational not-for-profit organization’s stated mission is to promote the security of life, property and the natural environment.

“The need for maritime AI solutions that provide guidelines for the most efficient sea routes will only increase from now,” HD Hyundai Marine Solution CEO Lee Ki-dong said through HD Hyundai’s news release. “We will continue to look for ways to provide AI solutions through this MOU.”

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]