Samsung Heavy Industries to Jointly Respond to IMO Regulations through Win-Win Cooperation

[Asia Economy Reporter Hwang Yoon-joo] Samsung Heavy Industries is embarking on a win-win management strategy by establishing a technological cooperation system to respond to the strengthened International Maritime Organization (IMO) environmental regulations, together with domestic medium-sized shipbuilders and equipment manufacturers.

On the 1st, Samsung Heavy Industries announced that it signed a memorandum of understanding (MOU) on 'Environmental and Digital Ship Technology Cooperation' jointly with domestic medium-sized shipbuilders Daesun Shipbuilding, K Shipbuilding (formerly STX Shipbuilding), Hanjin Heavy Industries, and ship engine manufacturer HSD Engine at the Geoje Samsung Hotel.

The signing ceremony was attended by the CEOs of each company, including Jung Jin-taek, President of Samsung Heavy Industries; Lee Soo-geun, President of Daesun Shipbuilding; Jang Yoon-geun, President of K Shipbuilding; Hong Moon-gi, President of Hanjin Heavy Industries; and Ko Young-yeol, President of HSD Engine, who all agreed to firmly strengthen their cooperative relationships for mutual growth.

This MOU mainly focuses on strengthening technological cooperation between medium and large shipyards and equipment manufacturers so that the domestic shipbuilding industry can gain a technological competitive edge in the global market in the fields of ▲environmental ship types and products ▲smart ships and digital vessels ▲IMO greenhouse gas regulation response solutions.

In particular, Samsung Heavy Industries expects that the expansion of its proprietary technologies, including eco-friendly and smart ship design and engineering technologies secured through leading technological development, as well as the smart ship solution SVESSEL and various energy-saving devices (ESD Package) that enhance ship efficiency, will open opportunities for win-win cooperation projects that help medium-sized shipyards secure order competitiveness.

In line with this, the domestic shipbuilding industry has completed the development of eco-friendly ships such as LNG dual-fuel propulsion vessels and LNG Ready ships and has dominated the market. The IMO has set a goal to reduce the carbon intensity of shipping by 40% by 2030 compared to 2008 levels, and by 70% by 2050, to cut greenhouse gas emissions.

To achieve this, measures such as limiting ship engine output (slow steaming), installing energy-saving devices, operating optimal routes, and using low-carbon fuels must be taken, which is expected to promote demand for retrofitting or new construction of eco-friendly ships. The shipbuilding industry anticipates that the implementation of the EEXI and CII regulations (IMO 2023) will have a greater impact on ship orders than the sulfur oxide emission regulations (IMO 2020).

This content was produced with the assistance of AI translation services.