DNV and SDST to establish Joint Innovation Studio

At the recent Marintec China trade fair, DNV and Shandong Shipping Tanker Co., Ltd (“SDST”) announced the launch of a new Joint Innovation Studio to explore, develop and promote maritime projects in the digital and sustainability space.

The shift towards a more digital and sustainable maritime industry is both a monumental challenge but also a big opportunity. New fuels, technologies, and operational methods will require cooperation from many different stakeholders and a mindset of innovation and exploration.

To realize these possibilities, DNV and SDST launched a dedicated Joint Innovation Studio. The Studio, which emerged from a cooperation framework agreement signed in November 2023, will serve as a platform for SDST to carry out technical cooperation with DNV in the shipping and maritime industries. With a goal of helping to achieve carbon neutrality and promoting data-smart shipping, the Studio will explore and promote the application of decarbonization technologies and smarter digitalization, providing technical support and solutions for the transformation of the shipping industry.

The Joint Innovation Studio, co-managed by SDST and the DNV Maritime Smart Center, will be based at SDST’s Qingdao headquarters. Established to drive collaboration on decarbonization and digitalization, it aims to grow collectively with industry leaders in this transformative decade. The Studio’s activities will kick off with a joint innovation project, to cooperate on value-chain Green House Gas (GHG) management covering:

  • An analysis of business scenarios, key use cases, implementation processes, and the required support system, relating to the GHG management of SDST’s own fleet and stakeholders across the value chain;
  • Joint development and implementation of an Emissions Trading System (ETS) management module for SDST’s fleet technical and commercial operation systems;
  • Joint development and implementation of a fuel strategy operational support module to enable a compliant and cost-effective transition to greener fuels for the SDST fleet;
  • Exploration and support of GHG co-management along the value chain, in cooperation with cargo owners, charterers, financiers, insurers, and other stakeholders.

“The complexity of the challenges facing our industry means that we need a new level of collaboration, over the long-term, that sets aside competitive instincts for a more sustainable future. DNV is proud to be working with future focussed partners like SDST, because they recognize that we need to activate the entire value chain, act now, and work towards a new golden age of maritime innovation,” said Norbert Kray, Regional Manager Greater China at DNV Maritime.