South Korean shipping company HMM reports that it has completed the installation of HiNAS Control autonomous navigation systems on 33 vessels to date, 75 per cent of the 44 vessels targeted for installation as it closes in on its target of having the project completed by the end of this year.
The project was initially announced by HMM and HD Hyundai autonomous navigation subsidiary Avikus earlier this year.
HMM says that it plans to expand the roll-out of the technology to its entire fleet of 123 directly owned container ships and bulk carriers by 2030.
HiNAS Control, which meets Stage 2 autonomous navigation standards under International Maritime Organization (IMO) regulations, detects collision risks within a 14 km range and suggests optimal routing and speed.
The system can be retrofitted to existing vessels by adding specialised equipment fitted with infrared and optical cameras.
HMM and Avikus estimate that the technology will reduce annual fuel costs by an average of approximately 4 per cent. The shipowner’s total fuel expenditure for its 123 directly owned vessels was estimated at approximately KRW 1,048.6bn (approx. US$709 million) last year.
A 4 per cent reduction in fuel consumption is projected to yield annual savings of approximately KRW 41.9bn (approx. US$28.3m), equivalent to an average of more than KRW 300m (approx. $200,000) per vessel.
“Fuel costs are a key factor in determining a shipping company’s profitability, and we are making various efforts to reduce them by even 1 per cent,” said an HMM official (translated from Korean).
“Being able to save 4 per cent is an extremely significant technology in the shipping industry today.”
