POSCO adopts AI-based carbon emission monitoring solution 'OceanWise'

By Kim Joo-heon Posted : February 1, 2024, 17:49 Updated : February 6, 2024, 02:24
Gettyimages Bank
Gettyimages Bank

SEOUL -- South Korea's leading steel group POSCO has adopted "OceanWise," an artificial intelligence-based carbon emission monitoring solution created by HD Hyundai. The solution will be used to check the energy efficiency of POSCO's bulk carriers designed to deliver raw materials such as iron ore and coal to foreign countries.

OceanWise also integrates big data and digital twin technology. A digital twin, which is a virtual clone of an object or an infrastructure, serves as a testing ground for novel technologies to simulate their outcomes. Using digital twin technology, OceanWise monitors and predicts carbon emissions based on navigation routes and changes in weather and tidal currents within a virtual space. 

HD Hyundai Marine Solution said the company signed an agreement to provide OceanWise to POSCO. Along with carbon emission-related data, the platform will recommend optimal routes for the steelmaker's ships. "Through the contract with global steel group POSCO, we have proven the reliability of OceanWise in terms of managing and reducing carbon emissions," an HD Hyundai Marine Solution official said in a statement on February 1.

POSCO has tried to find alternative fuel solutions to reduce carbon emissions. In October 2023, the South Korean steel group partnered with GS Caltex, a major domestic oil refiner, to demonstrate a biofuel-based bulk carrier. Biofuel is produced using plant-based or animal-based such as cooking oil from fast food restaurants or palm oil. Data released by GS Caltex showed that biofuel can reduce carbon emissions by more than 65 percent compared to conventional fossil fuels.
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