Revolutionizing the Shipping Industry: How Artificial Intelligence Enhances Efficiency

Shipping, as an industry, stands out as one of the most optimized mechanized entities. Modern-day shipping costs are incredibly low, enabling unprecedented efficiency. Consider this: a vessel capable of carrying up to 24,000 cargo containers operates with a minimal crew of just under 29 individuals. This efficiency extends to other aspects of shipping, such as self-governing designs.

Emerging Technologies for Enhanced Shipping Operations

Efforts are continuously progressing to leverage emerging technologies to improve the efficiency of shipping operations. A notable example comes from Japan’s Mitsui O.S.K. Lines (MOL), a leading global carrier, which announced the expansion of its AI initiatives to achieve greater efficiency in routing, with a direct impact on reducing emissions.

In 2019, MOL initiated a strategic partnership with Bearing, a cutting-edge AI technology startup based in Silicon Valley. The collaboration aims to enhance the maritime industry’s efficiency through a combination of MOL’s deep maritime expertise and Bearing’s advanced AI infrastructure. Together, the companies are developing various AI solutions that cater to the unique demands of shipping operations.

AI-Powered Predictive Models and Smart Routing

Bearing’s technology is based on highly-accurate ship performance models derived from a diverse set of real-world data points. These sophisticated AI-powered models leverage historical voyage data, ship speed, trim, main engine operation, weather, and sea conditions to predict fuel consumption and other critical metrics with state-of-the-art accuracy. This is achieved even without the need for detailed vessel design parameters.

Building upon these advancements, MOL has further developed an AI-powered Smart Routing Engine. This innovative application automatically analyzes multiple potential routes for a given voyage. It then recommends the most efficient and prudent routes through optimal main engine output and propeller RPM profiles. By considering these parameters, the routing system ensures the smooth and cost-effective operation of each voyage.

Continuous Fleet Optimization

MOL has made a commitment to continuously monitor the condition of its fleet, ensuring optimal operational efficiency. The integration of AI technology into the existing voyage routing systems is expected to significantly enhance the overall efficiency of MOL’s fleet. At present, the company operates approximately 800 ships.

MOL recognizes the transformative potential of AI and is eagerly looking to leverage Bearing’s AI expertise and scalable technology solutions. By combining these advancements, MOL aims to further advance its operating efficiencies, aiming for better fuel economy, reduced carbon footprints, and enhanced maritime safety.

Through these concerted efforts, ship owners and operators stand to benefit greatly from the integration of AI in their maritime operations. The industry is witnessing a pivotal shift as technology continues to play a crucial role in shaping a more efficient, sustainable, and cost-effective future for global shipping.