Report: AI Can Help Shipping Industry Cut Down Emissions

Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration
Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration
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Report: AI Can Help Shipping Industry Cut Down Emissions

Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration
Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration

The global commercial shipping industry could cut down its carbon emissions by 47 million tons per year by deploying artificial intelligence for sea navigation, a study by autonomous shipping startup Orca AI showed on Tuesday.
The use of the technology could reduce the need for maneuvers and route deviation from close encounters with high-risk marine targets such as vessels, buoys and sea mammals by alerting the crew in real time, according to the report.
WHY IT IS IMPORTANT
Shipping, responsible for moving about 90% of global trade, contributes nearly 3% to the world's carbon dioxide emissions. This share is anticipated to rise in the coming years unless stricter pollution control measures are implemented.
The International Maritime Organization aims to cut emissions by 20% by 2030, a target under threat from the ongoing Red Sea crisis.
KEY QUOTE
"In the short term, it can lead to fewer crew members on the bridge, while those who are on the bridge will have a reduced workload and more attention to tackle complex navigational tasks, optimizing the voyage and reducing fuel and emissions," Orca AI CEO Yarden Gross told Reuters.
"In the long term, it will open the door to fully autonomous shipping."
CONTEXT
Global carbon dioxide shipping emissions reached an estimated 858 million tons in 2022, a marginal rise from the previous year, according to the Organization for Economic Cooperation and Development.
An average of 2,976 marine incidents are reported per year, Orca AI's study showed.
BY THE NUMBERS
The reduction in route deviations could help ships shave off 38.2 million nautical miles per year from their travel, saving an average of $100,000 in fuel costs per vessel, according to Orca AI's report.
AI could also lower close encounters by 33% in open waters, it said.



Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
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Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)

South Korean electronic manufacturer Samsung Display Co plans to invest $1.8 billion for a factory this year in northern Vietnam to produce OLED displays for automobiles and technology equipment, the Southeast Asian country said on Sunday.

The new facility for the manufacture of organic light-emitting diode (OLED) displays will be located in Yen Phong industrial park in Bac Ninh province east of Hanoi and close to an existing Samsung electronics plant, the government said in a statement released after the meeting between Prime Minister Pham Minh Chinh and the General Director of Samsung Vietnam Choi Joo Ho.

Bac Ninh authorities and Samsung Display on Sunday also signed a memorandum of understanding of the project, local media reported, adding the investment would raise Samsung's total investment in Bac Ninh to $8.3 billion from the current $6.5 billion.

Vietnam has over the last decade emerged as one of the most attractive production hubs for electronics companies.

According to Choi, Samsung has established six manufacturing plants, one research and development center, and one sales entity in Vietnam, with a cumulative investment of $22.4 billion.