Samsung Heavy, Pan Ocean to co-develop digital solutions

South Korea's Samsung Heavy Industries announced on Tuesday that it has signed a memorandum of understanding (MOU) with Pan Ocean Co., the country's top bulk shipping firm, to develop a digital ship management platform based on digital twin technology.

According to the MOU, Samsung Heavy Industries aims to debut this cutting-edge platform on Pan Ocean's 174,000 cubic meter LNG carrier, New Apex, by Jan. 2024. Utilizing artificial intelligence (AI) technologies, the platform will provide real-time analytics for ship operations, enabling an integrated management approach for all onboard systems and equipment. This is expected to substantially reduce operational expenditures (OPEX).

Should the demonstration prove successful, both companies plan to extend their collaborative efforts to explore the use of digital solutions in the realm of autonomous navigation.

"Digital twin technology is at the core of autonomous navigation for Samsung Heavy Industries," CEO of Samsung Heavy Industries Jung Jin-Taek said. "This partnership is a significant step forward in enhancing our capabilities in autonomous navigation and establishing ourselves as a global leader in the field."

Write to Jae-Fu Kim at hu@hankyung.com