Hanwha Ocean to Collaborate with American Classification Society on Marine Business Technology Development

Signing of Marine Business Agreement, Cooperation in AI and Cybersecurity

Hanwha Ocean signed an Offshore Technology Collaboration Agreement (OTCA) with the American Bureau of Shipping (ABS) at Gastech 2024, agreeing to jointly pursue leading technology development projects.

Through this agreement, the two companies will enhance their core competencies in three key areas: ▲sustainability ▲digitalization and artificial intelligence (AI) ▲cybersecurity operational technology. They will also establish a foundation for cooperation on numerous cutting-edge projects utilizing these capabilities.

In particular, this agreement aims to lead the development of innovative eco-friendly technologies to improve energy efficiency, such as carbon capture, integration of offshore wind power technology, and electrification, with the goal of commercializing solutions that incorporate these technologies.

Miguel Hernandez, Vice President of ABS Global Offshore, stated, "This agreement marks an important milestone in offshore innovation," and added, "By collaborating with Hanwha Ocean, we will leverage the extensive experience of both companies and accelerate the development of clean energy solutions."

Philippe Levy, Head of Offshore Business at Hanwha Ocean, said, "ABS and Hanwha Ocean are one team, not only possessing the resources and expertise to accelerate innovation, but also able to integrate developed technologies into execution and operations." He continued, "This agreement will structure our goal to propose safe, sustainable, and economical solutions for strategic customers seeking to develop oil fields with low cost and low carbon intensity."

At GasTech 2024, Hanwha Ocean President Heecheol Kim (third from right), ABS Global Marine Division Vice President Miguel Hernandez (fourth from right), Hanwha Ocean Marine Business Division President Philip Levy (fifth from right), and Hanwha Ocean Product Strategy Technology Center Vice President Youngchang Son (sixth from right), along with other representatives from both companies, signed a technology cooperation agreement related to the marine business and posed for a commemorative photo.