July 16, 2015

Hyundai Heavy Industries and Accenture to Build Connected Smart Ships

Collaboration will help leading shipbuilding company offer built-in digital technologies to improve operational efficiency and decision making processes for ship owners

NEW YORK; July 16, 2015 – Hyundai Heavy Industries, a world leading shipbuilder, and Accenture (NYSE: ACN) are collaborating to design a ‘connected smart ship’ that will enable ship owners to better manage their fleets and achieve potential operational savings through the application of digital technologies.

Using a network of sensors that will be built into new vessels, ship owners will be able to capture a range of ship voyage information including location, weather, and ocean current data, as well as on-board equipment and cargo status data. By applying real-time analytics to new and historical fleet data and using data visualization technology to present the insights, ship owners will be able to monitor their vessel’s status and condition in real-time to make data-driven decisions that support more efficient operations. Services are expected to include real-time alerts and warnings, predictive maintenance and more efficient scheduling.

Accenture Connected Smart Ship

The connected smart ship will be developed using a combination of Hyundai Heavy Industries’ shipbuilding and manufacturing expertise, and Accenture’s digital and shipping industry experience. As ship owners seek innovative new ways to reduce vessel operating expenses, this collaboration will deliver a range of real-time services to improve the efficiency of their ships, while simultaneously strengthening Hyundai Heavy Industries’ competitiveness.

“Businesses can gain a competitive advantage by embracing the connectivity wave underpinning the Internet of Things and integrating digital services into their products to keep pace with the next wave of innovation,” said Eric Schaeffer, senior managing director, Accenture. “Our collaboration with Hyundai Heavy Industries utilizes our digital technology and deep industry experience to enable a traditional ‘products’ company to adapt its business model, taking advantage of digital technologies like analytics. Hyundai Heavy Industries’ willingness to create value for its customers through adopting elements of the Internet of Things is a great step on its digital transformation journey.”

“Through this collaboration with Accenture, our ambition is to lead innovation in ship operations, shipping and the port logistics sector,” said Moon-kyoon Yoon, Chief Operating Officer of the Shipbuilding Division of Hyundai Heavy Industries.

The connected smart ship uses Hyundai Heavy Industries’ on-ship platform and the Accenture Connected Platforms as a Service (CPaaS). Services to be offered to Hyundai Heavy Industries’ customers through this collaboration include administrative and user management services, and device management services. These help ensure all connected devices can be monitored and maintained remotely.

With real-time data collection and exchange across vessels, ports, cargo and land logistics, Hyundai Heavy Industries would be able to create additional services and revenue streams to customers across the lifecycle of ships and journeys, removing barriers between different elements of a ship’s operation. The collaboration is part of Hyundai Heavy Industries’ plans to expand its business, moving from manufacturing to services.

About Hyundai Heavy Industries
Hyundai Heavy Industries has grown dramatically by surmounting challenges through innovation. As the world’s biggest shipbuilder and a leading integrated heavy industries company with seven business divisions and 25 overseas incorporated firms and 17 overseas subsidiaries, HHI has delivered more than 2,000 quality ships to 305 ship owners in 51 countries since its foundation in 1972. Moving forward, we will continue to strengthen our global standing as the world’s leading heavy industries company by providing total solutions for our valued clients. The company aims to achieve new orders of US$22.95 billion and annual sales of 24.33 trillion Korean won in 2015.
For more information, please visit www.hyundaiheavy.com

About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with more than 336,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.

Accenture Digital , comprised of Accenture Analytics, Accenture Interactive and Accenture Mobility, offers a comprehensive portfolio of business and technology services across digital marketing, mobility and analytics. From developing digital strategies to implementing digital technologies and running digital processes on their behalf, Accenture Digital helps clients leverage connected and mobile devices; extract insights from data using analytics; and enrich end-customer experiences and interactions, delivering tangible results from the virtual world and driving growth. Learn more about Accenture Digital at www.accenture.com/digital.

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Contact:

Anthony Hatter
Accenture
+ 44 7810 756 138
anthony.hatter@accenture.com