Saudi Arabia's Bahri says it forged a new memorandum of understanding with Hyundai Heavy Industries (HHI) to drive greater use of data and technology in the maritime industry.
Bahri's acting chief executive Ali Al-Harbi and HHI executive vice president Chung Ki-sun signed the agreement, which covers new and existing projects between the companies that will use data and analytics to find efficiencies in the maritime industry.
"We are excited to collaborate with HHI and unearth opportunities that will positively impact the transportation and logistics sector," Al-Harbi said.
The two have a long history together as HHI has delviered 34 vessels to Bahri and is a joint venture partner on a maritime yard in Saudi Arabia.
Bahri's data unit, which has been in existence since 2015, said it aims to use a variety of new technologies, such as artificial intelligence, machine learning, and 'big data', to drive higher revenue yield, cost efficiencies and improved technical management in the maritime industry.
