In a significant move towards sustainable shipping practices, Korean Register (KR) and HD Hyundai Global Service have inked a Memorandum of Understanding (MoU) to collaborate on the verification of maritime carbon reduction solutions. The agreement was formalized on October 24th, during the Kormarine 2023 event in Busan, South Korea.
As global decarbonization regulations continue to gain momentum, the maritime industry is actively embracing digital technology to enhance the efficiency of carbon emission reduction efforts. This strategic partnership between KR and HD Hyundai Global Service is poised to usher in a new era of innovation, focusing on the development of cutting-edge “shipping and maritime big data and artificial intelligence (AI) technology.”
Under the terms of the MoU, HD Hyundai Global Service is set to spearhead the creation of a monitoring system for carbon emissions, harnessing the power of AI technology. The system will not only facilitate the forecasting and management of emissions but will also offer application programming interfaces (APIs) and data-related scenarios for both pre- and post-application of carbon reduction solutions. KR, on the other hand, will play a pivotal role in rigorously assessing the accuracy and effectiveness of HD Hyundai Global Service’s latest solution, ‘OceanWise,’ while simultaneously establishing objective standards for carbon reduction solutions.
Commenting on this collaboration, LEE Hyungchul, Chairman and CEO of KR, emphasized the critical role of digital technology in navigating the challenges posed by intensified international decarbonization regulations. He noted, “In this challenging time with strengthened international decarbonization regulations, it is essential for shipping companies to find efficient ways to reduce carbon emissions to secure competitiveness, and the convergence with digital technology will be the solution. We will fully support the industry to achieve more progress in eco-beneficial digital technology through the collaboration with HD Hyundai Global Service.”
Echoing this sentiment, LEE Kidong, CEO of HD Hyundai Global Service, expressed his enthusiasm for the venture. He stated, “We are glad to be able to officially prove the value of our solution with the cooperation of KR. Our carbon footprint monitoring system will meet the various industry demands regarding carbon emission management and it will be a very useful tool for exploring new business opportunities.”
This strategic alliance between KR and HD Hyundai Global Service marks a significant milestone in the maritime industry’s journey towards sustainable and carbon-neutral operations. As the world looks to mitigate the impact of shipping on the environment, this collaborative effort promises to drive the convergence of digital and eco-friendly technologies, ultimately shaping the future of maritime transportation.
