“i-MARINE” aims at developing and applying computational and experimental tools for introducing smart components in the propulsion system of commercial passenger and cargo vessels. The vision of “i-MARINE” is the research and development of the required technology for transforming a conventional propulsion shaft arrangement, presently characterized by sub-optimal performance, low adaptivity to operational/weather conditions and aging, and lack of fail-safe mechanisms, into an intelligent, controllable and adaptive system, capable of sensing component status, controlling system performance and reacting in the case of critical behavior. A critical failure in the shafting system leads inevitably to a runaway situation, with enormous cost and substantial risk of life and property at sea. “i-MARINE” will enable vessels to avoid large-scale damages and to sustain small scale damages in bearings by appropriately adjusting the shafting system. The innovation lies in putting the design focus on the actual operational profile of the shafting system, and on introducing cutting-edge technology tools, in terms of (a) advanced numerical simulation methods for modeling the behavior of the ship hull, the propulsion shaft and the bearings, (b) intelligent sensors, data acquisition and data processing for determining the present condition of the system components, and (c) adaptive control techniques to adjust operational parameters of the system for optimal response. The goals of “i-MARINE” will be achieved in a holistic manner, by studying the whole propulsion train, from the main engine to the vessel propeller, taking into consideration the different conditions throughout the vessel’s life. Implementation of the project’s results in marine propulsion systems is expected to have a significant impact on the economic and environmental efficiency of vessel, by minimizing power losses, fuel consumption and exhaust gas emissions and substantially increase reliability, decrease failure rates and the corresponding costs, and improve performance, in comparison to conventional designs.