MOL to Start Study on Big Data in Ocean Shipping
- Business & Finance
Japanese shipping company Mitsui O.S.K. Lines (MOL) has, together with its subsidiary MOL Information Systems, entered into an agreement with Yokohama National University to conduct a joint study on the analysis and use of big data related to ocean shipping.
The joint study is aimed at developing the capability to analyze data related to economics and maritime affairs and forecast the ocean shipping market and bunker prices with greater accuracy by using artificial intelligence (AI).
The partners will also proceed with new studies to develop management support tools.
Earlier in August, MOL restructured its existing US East Coast – West Coast South America route to connect Europe with East Coast South America, via the Strait of Magellan, West Coast South America, and West Coast Central America.
The revised service, which offers a direct service from East Coast South America to West Coast South America and West Coast Central America, comes on the back of MOL’s new vehicle transport contract to provide car carrier services for Toyota Argentina S.A. (TASA) to ports on West Coast South America and West Coast Central America.