The National Shipping Company of Saudi Arabia (Bahri) has signed a Memorandum of Understanding (MoU) with the South Korean shipbuilder Hyundai Heavy Industries (HHI) for cooperation in the field of big data.
The agreement sets up a comprehensive framework for technical cooperation in the transport and logistics sector. As stipulated by the deal, the business cooperation will include conducting joint assessment on the feasibility of launching new projects and supporting the existing ones.
Bahri said that the MoU will enter into force for a period of six months, which could be extended until the completion of studies and potential decision making on the future steps involving concrete investments on those projects.
In an earlier interview with World Maritime News, Bahri, as a strong believer in the benefits of the big data, said that any company in any given industry has the chance to improve its performance by 5-10%, if not more, by using big data.
As explained by Anwar Siddiqui, Advisor to the CEO of Bahri, big data remains untapped in the shipping industry, therefore there are huge opportunities for innovation, usage, driving optimal performance, and leveraging assets better.
The company revealed that it was developing several big data models and building capabilities, aimed at contributing to saving money, improving customer efficiency, enhancing chartering, and increasing revenue as well as the asset life or efficiency.
Furthermore, the company added that it was investing in partnerships, remaining open to contributing and working with the industry in relation to big data.
—-World Maritime News
