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HD Hyundai Marine Solution Co. said on Thursday, Feb. 1, that it has agreed to supply AI-based and extensive data-based low-carbon monitoring systems to POSCO Group. This carbon emission solution has been named "OceanWise."
OceanWise Decarbonization Solution
OceanWise is designed to monitor and predict carbon emissions based on the weather, changes in ocean tides, and navigation routes. The data are given based on the ship performance prediction model created in the virtual space.
As per The Korea Economic Daily, the system will enhance monitoring accuracy through deep learning and machine learning tools where the ship operation data are loaded for predictions. POSCO will be able to determine the energy efficiency of cargo ships that carry products that release carbon, such as iron ore and coal. The solution will provide the shipment's carbon intensity indicator (CII) rating.
"This contract with global steel company POSCO proved the reliability of OceanWise for managing and reducing carbon emissions," an official of HD Hyundai Marine Solutions said.
Additional Plans for Carbon Emissions
HD Hyundai Marine Solutions said it plans to encourage emissions LCA (Life Cycle Assessment) and carbon credit commercialization in the shipping industry according to Oceanwise's shipping carbon management solution function. It will also expand the extent of its services as needed in the future and provide information on ships' eco-friendly performance.
"HD Hyundai received great attention by introducing Ocean Wise at CES 2023 last year as a core vision to realize 'Ocean Transformation', a fundamental change in the ocean," HD Hyundai said in a press release. "Through this contract, HD Hyundai Marine Solutions will provide a grade monitoring function that can always check the CII (Carbon Intensity Index) grade of dry bulk ships operated by POSCO to import raw materials such as iron ore and coal."
The company added, "In the future, per the discussions between the two companies, the scope of services will be further expanded, including support for designing optimal fuel-efficient navigation routes and operating speeds for each section and providing information on the eco-friendly performance of ships scheduled to be chartered."
Photo by: HD Hyundai Website
