Columbia Shipmanagement (CSM) signed a memorandum of understanding (MoU) with Cyprus Marine and Maritime Institute (CMMI) to launch an innovation programme to explore the digitalisation of certain sectors in the industry.

Called DigitalWaves, the programme will involve research and innovation related to data gathering on ships and other stakeholders, as well as ongoing trends in artificial intelligence (AI) and connectivity.

Digital Waves will handle domains such as ship sensorization, augmented and virtual reality and data gathering using 5G cloud technology.

The programme will combine modern technological trends to form a holistic plan that is expected to increase efficiency, reduce costs and encourage transformation.

Digital Waves will be carried out in three phases. The first phase will explore issues in the maritime industry to better understand the Present Mode of Operation (PMO).

Testing and implementation in a maritime environment will be part of the second phase, while the final phase will involve digital product and solution development.

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CSM president Mark O’Neil said: “As we enter the new year and a new decade amid the beginning of fundamental digital transformation in shipping, we envisage, through Digital Waves, to benefit from the combination of the rise of improved and cost-sustainable connectivity and digitalisation to transform every aspect of the Shipmanagement model over the next three decades with a primary focus on safety and efficiency to the benefit of our clients.”

CMMI CEO Zacharias Siokouros said:We are very excited that only a few weeks after CMMI set sail, having received great support in funds and resources from the EU, the Cyprus Government and our industry and academia partners, we are now embarking with Columbia Shipmanagement on a voyage of exploration into the sea of big data.”