Artificial intelligence offers to improve shipping industry efficiency

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Emerging technologies are in full swing to improve the efficiency of shipping operations. Japan’s Mitsui OSK Lines announced that it is expanding its efforts with artificial intelligence to achieve greater efficiency with routing that will also help reduce emissions from its ships.

Based on a partnership that began in 2019, MOL is working with Bearing, a Silicon Valley-based artificial intelligence technology startup, to improve efficiency within the maritime industry. Together, the two companies are developing a range of products that combine MOL’s maritime expertise and Bearing’s AI technology infrastructure.

Bearing, according to MOL, is building technologies that use highly accurate ship performance models built from a diverse set of real data. These AI-driven models with some historical voyage data for certain vessels, such as vessel speed, trim, main engine performance, weather and sea conditions, allow Bearing to predict metric values such as fuel consumption with state-of-the-art accuracy even without vessels.

Through several intensive ship modeling tests and discussions, MOL announced that it has developed an AI-driven intelligent routing engine. This application automatically analyzes multiple potential routes for a given voyage and recommends prudent and efficient routes using optimal main engine power and propeller RPM profiles.

MOL says it continuously monitors the status of its fleet to ensure optimal operational efficiency, which is enhanced by the combination of Bearing’s technologies and other new and existing solutions. By adding artificial intelligence technology to existing voyage routing systems, MOL expects to be able to further improve the operations of its fleet, which currently has approximately 800 vessels in operation.

It understands the transformative potential of AI and expects to leverage Bearing’s AI expertise and experience in creating scalable AI technology products to further advance operational efficiency.

Source Maritime Executive

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