MOL Aims to Use Artificial Intelligence to Forecast Bunker Prices

MOL President & CEO Junichiro Ikeda Mitsui O.S.K. Lines, Ltd. (MOL) this week has unveiled an ambitious new plan to use artificial intelligence (AI) to forecast bunker prices, along with other shipping market movements. MOL President & CEO Junichiro Ikeda Tuesday said its subsidiary MOL Information Systems, Ltd. signed a contract 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) in cooperation with Professor Tomoharu Nagao of the university’s Graduate School of Environment and Information Sciences,” said MOL. “ The MOL Group continually takes a proactive…


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