October 7, 2019

Marubeni Corporation

Commencing Joint Research and Analysis on Maritime Logistics and Market Conditions with AI

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

In recent years, it has become possible to use comprehensive, chronologically ordered ship movement and static data, such as position (coordinate information), speed, direction, port of call and drafts, for ships with over 300 gross tonnage traveling internationally. This data is being applied in a variety of ways. Additionally, AI is making remarkable progress with improving machine learning and deep learning technology, and there is much research and practical application of this technology that is being used to find patterns hidden in big data and to make predicitions. 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.

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.

The Marubeni Group's "Global crossvalue platform" creates new value by freely combining the Group's diverse assets across traditionally restrictive business silos. Even before this joint research, Marubeni had been working in-house on using AI to produce a predictivie model for charter fees for bulk carriers, and achieved a certain level of forecast accuracy.

Moving forward, Marubeni will further develop this by combining its own knowledge with the experience and knowledge of "K"Line, MPAT, and Hiroshima University to promote the creation of new value based on digital innovation.

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Marubeni Corporation published this content on 07 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2019 06:46:01 UTC