Samsung Heavy Industries Partners with Pan Ocean to Develop Digital Ship Management Platform

Samsung Heavy Industries, one of South Korea’s leading shipbuilding companies, has signed a memorandum of understanding (MOU) with Pan Ocean Co., the country’s top bulk shipping firm. The agreement involves the development of a digital ship management platform based on digital twin technology.

The platform aims to revolutionize ship operations utilizing artificial intelligence (AI) technologies to provide real-time analytics and an integrated management approach for all onboard systems and equipment. By doing so, it is expected to significantly reduce operational expenditures (OPEX).

The initial plan is to debut this cutting-edge platform on Pan Ocean’s LNG carrier, New Apex, January 2024. If the demonstration proves successful, both Samsung Heavy Industries and Pan Ocean plan to further collaborate in exploring the use of digital solutions in the realm of autonomous navigation.

The CEO of Samsung Heavy Industries, Jung Jin-Taek, highlighted the significance of this partnership. He stated that “digital twin technology is at the core of autonomous navigation for Samsung Heavy Industries” and that this collaboration is a significant step forward in enhancing their capabilities in autonomous navigation and establishing themselves as a global leader in the field.

The adoption of a digital ship management platform has the potential to revolutionize the shipping industry improving operational efficiency and reducing costs. By leveraging AI technologies and real-time analytics, companies can optimize ship operations, minimize downtime, and enhance safety.

Digital twin technology, on which this platform is based, involves creating a virtual replica of a physical asset, in this case, a ship. This allows for real-time monitoring, analysis, and optimization of the asset’s performance and maintenance. By utilizing this technology, ship operators can make data-driven decisions and proactively address potential issues, leading to improved operational efficiency and cost savings.

Sources:
– Samsung Heavy Industries
– Pan Ocean Co.
– Hankyung.com