K Line aims to use AI to forecast shipping markets

Predicting shipping markets is not an easy task – how often do analysts get it right? In an effort to improve its ability to forecast the market K Line is researching the use of artificial intelligence (AI).

K Line has reached an agreement with Hiroshima University, the National Institute of Maritime, Port and Aviation Technology (MPAT) and Marubeni Corporation to work on research and analysis on maritime logistics and shipping market conditions using AI.

The research aims to use data such as ship movement, speed, port calls with AI to identify hidden patterns and make predictions.

“The purpose of the research is to estimate maritime logistics by combining data and technology, and to explore the possibility of developing predictive models with high accuracy,” K Line said.

“The shipping market is one of the more difficult economic indicators to predict because it fluctuates greatly under the influence of various market and social conditions, and sometimes market sentiment as well. The method developed by the research is expected to enable more accurate and transparent business decisions.”

Posted 8 October 2019

© Copyright 2019 Seatrade Informa Markets. Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade Informa Markets.

Related Topics

Marcus Hand

Author Bio ▼

Editor, Seatrade Maritime News Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with nearly two decades of experience covering the shipping industry in Asia. In addition to running Seatrade's maritime and offshore news website based from Singapore he is the Asia Editor of Seatrade Maritime Review. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Prior to joining Seatrade at the beginning of 2010 Marcus worked for shipping industry journal Lloyd's List for a decade and previous to that the Singapore Business Times covering shipping and aviation.

Sign up to get the latest Maritime News headlines emailed directly to your inbox

SUBSCRIBE