- ABB, Lab021, ForceTEC Co. Ltd., Daehan Shipbuilding Co., Ltd. and K Shipbuilding Co., Ltd. have signed a Memorandum of Understanding to collaborate on developing intelligent fuel-efficient vessels
- ABB’s Vessel Routing API will be integrated on all newbuild vessels to be delivered by two leading South Korean shipyards
- The vessels will benefit from optimized voyage safety and efficiency
Technology leader ABB, shipping data analysis company Lab021, service integrator ForceTEC Co. Ltd., and two of the leading shipyards in South Korea, Daehan Shipbuilding Co., Ltd., and K Shipbuilding Co. Ltd., have signed a Memorandum of Understanding (MoU) to collaborate on developing intelligent and fuel-efficient vessels. Under the terms of the agreement, Lab021 will install the Vessellink solution featuring ABB’s Vessel Routing Application Programming Interface (API) on forthcoming vessels delivered by shipyards. The first vessels have already been contracted and are expected to be delivered at a rate of one per quarter, starting from Q1 2025.
Vessellink is a digital platform enabling data-driven ship performance management for safe, efficient and compliant operations. Within the framework of the MoU, the solution will integrate ForceTEC’s video technology to facilitate real-time vessel monitoring. Crucially, it will leverage data provided by ABB’s Vessel Routing API to ensure smooth and effective operation of its voyage-optimization function.
As part of the ABB Routing Services portfolio, the Vessel Routing API allows shipping companies and system integrators to incorporate ABB’s weather forecasting and voyage optimization capabilities within their own dashboards, workflows and applications. For the end user, it enhances the accuracy of estimated arrival times and provides – on demand – safe and efficient routes optimized for time, fuel or cost savings.
“ABB’s solution was selected as the most accurate and efficient of the several voyage optimization APIs tested and serves as a crucial building block for our solution,” said Paul Lee, Chief Executive Officer, Lab021. “With the integration of high-resolution weather data and an advanced routing algorithm, we are confident that the Vessellink platform will contribute to the decarbonization efforts of the shipping community.”
“We are excited about this pioneering initiative, which underscores the transformative power of marine digitalization and supports the industry’s decarbonization goals,” said Osku Kälkäjä, Head of Digital Business, ABB Marine & Ports. “By integrating ABB’s Vessel Routing API into the Vessellink platform, the collaboration delivers advanced voyage optimization to enhance safety, efficiency and compliance. Ship owners and operators will benefit from this from the moment the vessels leave the yard.”
Endorsed by classification society Korean Register, the MoU serves as a foundation for long-term cooperation between the five parties involved.
Based on data provided by Clarksons Research [1] and ABB’s analysis, in the last four years South Korea has been the second largest shipbuilder country in the world. Its shipyards account for around 25 to 30 percent of global orderbook in compensated gross tonnage (CGT) terms and from 11 to 15 percent in number of units.
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