Hyundai Corporation - Experts & Thought Leaders

Accelleron has signed an agreement with Hyundai Marine Solution (HMS), the aftermarket and digital division of shipbuilder, HD Hyundai Group, to enter a strategic cooperation on digital solutions. Two Accelleron solutions will cover engine and turbocharger monitoring and optimisation.  Under the partnership, the companies will seek closer integration and further efficiencies across digital tools. These include HD Hyundai Marine Solution's ship management system, Integrated Smart Ship Solution ISS 2.0 and AI-based emissions monitoring solution OceanWise, and Accelleron’s engine performance optimisation solution LOREKA360° Tekomar XPERT Engine and monitoring tool Turbo Insights. Accelleron’s advanced digital analytics solution Accelleron currently delivers LOREKA360° Tekomar XPERT Engine to around 100 vessels Accelleron currently delivers LOREKA360° Tekomar XPERT Engine to around 100 vessels in HMS’s customer pool. Further licences for HHI vessels – including those already in service and those to be built – will be issued on Accelleron’s behalf by HMS, with the number expected to reach around 500 vessels in the near future. The solution assesses engine performance and delivers related advisory instantly on board the vessel. Turbo Insights is Accelleron’s advanced digital analytics solution designed to transform raw operational data into actionable intelligence from the moment a turbocharger is installed. It enables shipowners and operators to verify performance during shop tests, sea trials, and throughout the warranty period and beyond. It can support sustainability goals and cost reduction efforts, while enabling seamless integration with digital services such as LOREKA360° Tekomar XPERT Engine. AI-based vessel performance Hyundai’s ISS 2.0 is a state-of-the-art ship management system that collects real-time data from key onboard devices to provide analysis services as well as optimal navigation services. OceanWise is an AI-based vessel performance model that expands to emissions analysis and route optimisation, leveraging operational voyage data without the need for onboard hardware. Delivery of Accelleron solutions Accelleron Global Head of Sales and Operations, Digital Solutions, Shailesh Shirsekar, said: "With a customer pool comprising vessels built by one of the world’s pioneering shipbuilders, HMS is a strong partner in the delivery of Accelleron solutions. Working together, we will enable ship operators to make the most of both platforms, driving efficiency and cost improvements." Bong-jun Choi, Head of HD Hyundai Marine Solution’s Digital Technology Centre, said: "Through this partnership, we will help ship owners and operators achieve a new level of operational efficiency not only for ships built at HD Hyundai but also ships in operation. We are confident that our strategic cooperation with Accelleron will create new opportunities for our customers."

Ulsan Port Authority (UPA) has announced that it signed an equity investment agreement worth US$17.6 million with Hyundai Oil Terminal Corporation on 1 August 2024, to establish Korea’s alternative marine fuel supply chain centred on Ulsan Port. The investment is a follow-up to the 'Plan to Establish an Alternative Marine Fuel Supply Chain' announced at the government's emergency economic ministerial meeting in November 2023, with UPA taking the lead to strengthen the competitiveness of Korea’s ports by expanding storage tanks dedicated to alternative marine fuels, such as green methanol. Supply of alternative marine fuel UPA will seek to establish green shipping corridors to activate the supply of alternative marine fuel Through this agreement, UPA will participate in the terminal business, prioritising the use of 100,000 kl of the tank terminal's storage facilities. In addition, UPA will seek to establish green shipping corridors to activate the supply of alternative marine fuel to domestic and foreign energy companies and global shipping lines. At the same time, Hyundai Oil Terminal, with UPA's contribution, is implementing a new terminal investment project worth nearly KRW 300 billion (US$219 million). The project will see storage facilities at Ulsan's New Port expand by 380,000 kl, with the first phase being the storage of chemicals and oils, including eco-friendly fuels such as green methanol and ethanol. It is anticipated that the first phase will be in commercial operation during the first half of 2026. Upon completion of the terminal expansion, Ulsan Port’s annual cargo volume will increase to approximately 2.5 million kl per year with environmental energy cargo volumes expected to make up 800,000 kl per year. Engines for Korea's shipping UPA President Kim Jae-gyun said, "This investment is part of UPA's efforts to create an alternative marine fuel supply chain to fulfil the government's policy. The agreement also marks the first time that UPA has acquired a direct stake in a tank terminal and its operations." "We will be operating eco-friendly ships based at Ulsan Port, contributing to decarbonisation and creating new growth engines for Korea's shipping and port industry by establishing green shipping corridors between Korea and the U.S,” said Kim Jae-gyun. This latest announcement follows June’s MoU between UPA and Hyundai Oil Terminal providing a strategic collaboration to supply alternative marine fuel in Ulsan Port.

ABS, HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE), and HD Hyundai Heavy Industries, Co., Ltd. (HHI) have signed a memorandum of understanding (MoU) to collaborate on the technical feasibility for medium-voltage direct current (MVDC) power systems on ships. The agreement opens the door to collaboration on design assessment, new technology qualification as well as the development of rule guidance to provide clear directives on technical requirements, safety standards, and regulatory compliance. Alternative energy options "We are proud to partner once again with HD KSOE and HHI. Our companies are equally focused on the safety of the maritime industry while supporting a smooth transition to clean energy," said Patrick Ryan, ABS Senior Vice President and Chief Technology Officer. He adds, "Alternative energy options, particularly electrification, are needed to help the shipping industry achieve net zero by 2050." Low-voltage direct current power system (LVDC) Byoung-Hun Kwon, Head of HD KSOE Electrification Centre, said, "For the electrification/unmanning of large ships and ship systems, marine MVDC technology is essential, not optional, and we have successfully developed a low-voltage direct current power system (LVDC) in many projects, including the Ulsan Taehwa." He adds, "Based on our experience in delivery, we will lead the large ship electric propulsion market by expanding our technology to the MVDC power system."