Trading Line to invest EUR 80 mln in smart navigation on Danube

Romanian-Dutch river carrier Trading Line Group is preparing investments amounting to about EUR 80 million to implement smart technology such as artificial intelligence and remotely controlled ships, stated Paul Ivanov, the company’s CEO, in a conference organized by Ziarul Financiar daily.

There are 40-50 remotely piloted ships on the Rhine, some of which are manned by artificial intelligence computers, he argued.

Ships can be transformed quite easily, he explained, speaking about the technical side of the investment. Furthermore, the technology can be more easily implemented on the Danube because the river is wider than the Rhine, and the traffic is not so heavy, he added.

The carrier has already purchased a new ship that is partially remotely piloted after a EUR 6 mln investment.

The company wants to buy two smaller ships in 2021 and is preparing investments of EUR 9 mln in this regard. The main source of financing is bank financing.

The carrier is also targeting investments of around EUR 27 mln for three special container cranes and has submitted three projects in 2020 for which it hopes to receive 60% or 70% financing from the European Union’s budget.

(Photo source: Pixabay.com)