Wednesday, October 9, 2019

Container Line Launches Investigative Project to Predict the Future

AI to be Used to Look at Logistics and its Influences
Shipping News Feature

JAPAN – Kawasaki Kisen Kaisha Line (K Line) has announced a joint project to work on research and analysis on maritime logistics and shipping market conditions using artificial intelligence (AI) technology.

K Line is working together with Hiroshima University, the National Institute of Maritime, Port and Aviation Technology (MPAT) and the Marubeni Corporation, to further improve the quality of existing services centred around safety in navigation and cargo operations which it says can contribute to strengthening relationships with its customers, something which it has cultivated for many years.

In recent years, it has become possible to use comprehensive, chronologically ordered ship movement and static data, such as position (coordinated information), speed, direction, port of call and drafts, for ships with over 300 gross tonnes traveling internationally. This data is being applied in a variety of ways.

Additionally, AI is making remarkable progress with improving both machine and deep learning technology, and there is much research with practical applications of this technology that is being used to find patterns hidden in big data and to make predictions. The purpose of the research is to estimate facets of 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 partners is expected to enable more accurate and transparent business decisions.

K Line is promoting the application of digital technology which never stops evolving, such as Artificial Intelligence and the Internet of Things to its existing business by assigning an ‘AI/Digitalisation Promotion Division’ as a driver.

The company says it is also working to organically integrate and develop the various technologies and services cultivated across all divisions to date, and to move forward not only internally, but also through proactive cooperation with universities and other external research institutes, so that it can construct new business models more effectively and with a greater sense of speed.

K Line says it will continue to promote the creation of new values by combining its own knowledge on shipping cultivated for the past 100 years, now with new experience and knowledge from the Hiroshima University, MPAT and Marubeni.