HD Hyundai to supply low carbon solution to POSCO

HD Hyundai Marine Solution Co., a ship components manufacturer, said on Thursday it has agreed to supply an artificial intelligence- and big data-based carbon emission-monitoring system, dubbed OceanWise, to steel giant POSCO Group.

OceanWise monitors and predicts carbon emissions according to navigation routes, weather and tide changes, based on a ship performance prediction model built in virtual space. The agreement marks the commercial launch of OceanWise.

The system is expected to improve accuracy, using deep learning and machine learning tools for accumulated ship operation data.

It will enable POSCO to regularly measure the energy efficiency of cargo ships carrying iron ore and coal in terms of the carbon intensity indicator (CII) rating system.

OceanWise also simulates a freighter's CII rating before it leaves the port and recommends the optimal route based on the data.

HD Hyundai Marine will enhance the low-carbon system by adding the functions of recommending optimal fuel-efficient navigation routes and navigation speeds for each portion of the trip, as well as providing information on the eco-friendly performance of ships.

In line with stricter carbon emission standards, low-carbon solutions are enjoying high demand from ship owners and charterers such as steelmakers and power generation companies.

Recently, the criteria of greenhouse gases that each company must be indirectly responsible for increased to Scope 3.

Scope 3 includes all other indirect emissions that occur from corporate activities not directly related to the company's ownership or control. It includes the purchase and transportation of raw materials and services, as well as business trips by employees involved in the process.

“This contract with global steel company POSCO proved the reliability of OceanWise for managing and reducing carbon emissions,” said an official from HD Hyundai Marine.

It plans to expand into the life cycle assessment market of carbon emissions and the carbon credit market, based on OceanWise's shipping carbon management solution.

Write to Hyung-Kyu Kim at khk@hankyung.com
 

Yeonhee Kim edited this article.