The Chinese carrier said it expects to “greatly improve” the safety and compliance of key business processes and indicators, such as navigation and cargo transportation. Furthermore, the initiative will also assist its drive to cut emissions and fuel consumption, while making improving vessel maintenance.

“Building a shore-based smart ship data management center,” COSCO said, “will not only unlock the value of aggregated data and promote the development of smart shipping, but will also promote the realization of collaboration and efficiency in the optimization of the shipping industry supply chain.”

The joint project team will focus on how to strengthen and realize the collection and aggregation of data from ships and onshore, build and provide a data management infrastructure with flexible and safe access to all information. Per Marius Berrefjord, senior vice president of DNV GL Group and global leader of the cooperation project, said: “DNV GL and COSCO Shipping Group have the same vision for the digital transformation of the maritime industry, and the same understanding of the continuous, long-term and systematic efforts required to realize the vision.

“The cooperation between the two parties on the smart ship data management center project will it’s a cooperation in the digital transformation of the maritime sector that both parties and the industry are very much looking forward to.

“DNV GL is very pleased to have this exciting digital transformation. During the journey, we shared and contributed our unique vision, professional knowledge and rich experience in this field, and also felt the professional ability of the technicians of Shanghai Ship Research Institute.”

Xu Lirong, chairman of COSCO, was quoted describing digital development as “an irreversible technological development trend” in the global shipping industry.

“This trend,” Lirong continued, “may redefine the shipping industry chain and produce a series of new the rules and standards of the shipping industry.

“In the final analysis, the digital development of the shipping industry is the shipping industry’s own measures to stimulate internal vitality and motivation from the perspective of transformation and upgrading, improving customer service levels and core competitiveness.”