Container ship is principally an open top box in which containers can be stacked. small categories of container ships, Feeder and Feedermax vessels sized for less than 1,000 TEU are generally used on short haul operations. Handy vessels of less than 3,000 TEU are part of Container ship fleet. Bigger ships which are referred to as Panamax (3,000- 4,000 TEU), post Panamax (over 4,000 TEU) and Very Large Box Carriers/VLBC (over 6,000 TEU) are used on long haul trades/routes where speed is an important aspect of service. Bulk cargoes are transported in bulk carriers. Single deck ships with vertical cargo access through hatches in weather deck. The greatest concentration of bulk carriers by numbers is in small sizes. Handy bulk carriers (10,000-40,000 dwt) which are flexible workhorses, Handymax (40,000-60,000 dwt) and Panamax (60,000-100,000 dwt) which is in the Centre of market typically carry bulks such as grain, coal and bauxite. Capesize bulk carriers (100,000-300,000 dwt) are heavily dependent of iron ore and coal.
The forecasting of the shipping market for ship owners, banks, shipyards, engineering companies, and agencies is not optional. This market is highly volatile, non-stationary and nonlinear process. When it comes to Tanker shipping, the frequent fluctuation of crude oil price is a complicated issue that is easily affected by both external and internal factors due to the operation of market internationally. The main variables of shipping market are demand and supply. The key variables of tanker demand are oil volume and the distance the oil needs to be shipped worldwide.The demand for tanker is very inelastic because this cargo is strategically important and the transportation costs for oil do not affect the volumes of demand. One of the important principal variables for the demand side is world economy.The supply side is more complicated because the supply of ships is affected by bunker price and freight rate as feedback, and, depending on the situation, may be elastic or inelastic The key variables of shipping supply are world fleet and efficiency of the vessels.Read More
Soshianest Enterprise Miner (SEM) is a modern software tool and has been particularly developed to be a platform and user-friendly vehicle for predicting complex and highly volatile markets like shipping. Algorithmically architecture to address forecasting needs of stakeholders in shipping industry. This software utilizes modeling techniques, such as metaheuristic algorithms, time series, etc. SEM is a quick and easy way to generate predictive models. In a semi-automatic step, it analyzes data, transform the data, select variables, selects the best model from a variety of algorithms and delivers the results in easy-to-understand charts. Data Mining is an artificial intelligence powered tool that can discover useful information within a database. AI and machine learning is the nontrivial extraction of implicit, previously unknown and potentially useful information from data. Statistical methods are used that enable trends and other relationships to be identified in large databases. Therefore, with utilizing data mining applied methods and Artificial Intelligence algorithms based on the Deep Learning & bagging and Neural Network, we were able to predict freight rate within acceptable range.