AOT's digital solution making waves in global maritime sector
The solution SMARTShip is an Internet of Things (IOT) platform that enables on board operation of multiple systems.
The solution SMARTShip is an Internet of Things (IOT) platform that enables on board operation of multiple systems thus helping the crew and managers to continually monitor data, benchmark performance and take data driven, rules-based decisions .
Rajesh Unni , founder of AOT and Synergy told ET that the benefits of a smart ship outweigh the onetime capital cost of $ 30000 in installing the digital solution. BW group of Singapore and Nissen Kauin of Japan are shareholders in AOT
``In a situation where shipping sector is facing a recession, our product helps in an annual saving of $150000 per ship per year. There could be about 5% saving in fuel, the biggest cost for the ships, alone,’’ Unni said adding that it has been already installed in 35 ships globally while another 60 vessels are waiting to get equipped with the solution.
Yet another advantage is that the transformation to smart ships helps in improving job opportunities for the seafarers in India, Unni pointed out. Currently India contributes 10% of the global maritime workforce estimated at 1,545,000. Philiippines, China, Indonesia and Russia are the other major players.
``Although the core skills will remain the same, the workforce will have to get updated as the shipping industry is getting transformed from analog to digital enterprises. We have already taken the initiative to re-train our workforce through our learning centre.’’ Unni is aiming at bringing down the SMARTShip installation cost to $10000.
Synergy formed in 2006, manages a fleet of over 265 vessels and employs 10,000 seafarers. It earned a turnover of $50 million last year and is growing at 40% annually.
Unni said the new regulation to cap sulphur emissions from ships at 0.5% compared with 3.5% at present by the International Maritime Organisation (IMO) from January 1 2020 will require ships to get fitted with scrubbers to comply with new norms. Globally there are 59,000 commercial vessels operating.
``Though shipyards in China, Korea and Turkey have taken advantage of the opportunity for scrubber installations, going forward, Indian shipyards too will get a chance as IMO is aiming at 50% reduction in emissions by 2050,’’ Unni said.