Signs Agreement With Weathernews in Chiba to Combine Vessel Data and Forecasting

HD Hyundai Marine Solution is accelerating its efforts to preoccupy the global maritime digital market, spearheaded by its artificial intelligence (AI)-based route optimization technology.

HD Hyundai Marine Solution announced recently that it signed a ‘Basic Agreement on Business Cooperation’ at the Weathernews headquarters in Chiba, Japan. The core of this agreement is to provide an advanced route optimization service by combining the vessel data and weather forecasting technology possessed by both companies. At the signing ceremony, the representatives of both sides agreed on a comprehensive cooperation plan, including the pursuit of initial domestic contracts and joint global marketing.

The ‘AI Route Optimization Combined Solution (OSR-OW)’ introduced by the two companies has already achieved meaningful results in the domestic verification stage. As a result of analyzing actual operation data, it was confirmed that there was a fuel saving effect of at least 3% compared to existing routes. This is a figure that can drastically reduce fuel costs, which account for a significant portion of vessel operating expenses.

Technological convenience was also secured. The solution can be immediately applied to vessels that were previously using the services of either company, without the need for additional hardware or program installation processes.

HD Hyundai Marine Solution and Weathernews plan to gradually expand the application of the solution to approximately 8000 vessels currently under their management.

Kim Sung-joon, CEO of HD Hyundai Marine Solution, emphasized, “This agreement is highly significant in that it has settled the cooperation between the two companies into a business model capable of generating actual profits,” and added, “We will supply the market with an optimal solution that can catch two rabbits: reducing fuel costs and responding to environmental regulations.”

Source: Businesskorea