Artificial Intelligence: Mitsui OSK And Bearing Develop AI-Powered Smart Routing Of Ships To Cut Emissions

https://dailyalts.com/wp-content/uploads/2021/02/main.jpg

An AI-powered Smart Routing Engine predicts the most fuel-efficient route for the ship.

Mitsui O.S.K. Lines Ltd (TYO: 9104), one of the largest shipping companies in the world, has an operational fleet of approximately 800 ships. Since 2019, Mitsui has been collaborating with Silicon Valley-based Bearing.ai, an Artificial Intelligence technology startup, on improving shipping efficiencies. The partnership used Mitsui’s maritime expertise and Bearing’s AI technology to develop, among other products, an AI-powered Smart Routing Engine for ships. (The Maritime Executive)

The AI-powered Smart Routing Engine

The routing engine developed by Mitsui and Bearing analyses various route options for the ship to take. It then identifies the most efficient and prudent routing considering main engine output and propeller RPM profiles.

To generate this result, Bearing.ai uses highly-accurate ship performance models built off of a diverse set of real-world data points.

These models work with additional inputs. This includes historical voyage data for the ship such as its vessel speed, trim, and main engine operation; the weather; and sea conditions. Bearing.ai is then in a position to forecast metrics like fuel consumption with state-of-the-art accuracy even without vessels’ design parameters.

Bearing.ai says on its website that currently, its product is in closed Beta and only open to early partners.

“Net Zero” by 2030

“The global shipping industry has been challenged to further enhance energy efficiency and develop measures to reduce greenhouse gas (GHG) emissions from ships in a manner that will phase them out in this century,” Mitsui said in a statement.

“The MOL Group is one of the world’s leading multi-modal transport entities that is committed to achieving sustainable “Net Zero GHG Emissions” through collective efforts by 2030.”

Related Story:  How AI Watches For Pirates On The High Seas

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/07/graph-g80f55d5ee_640.png
FinTech: Klarna’s Valuation Plunges To $6.5B In Talks To Raise $650M (WSJ)
July 1, 2022     FinTech, Latest News, News

Klarna, the Swedish fintech known for its buy-now-pay-later (BNPL) financial product, is negotiating to raise $650 million at a valuation of $6.5 billion, which is a very sharp comedown from…

https://dailyalts.com/wp-content/uploads/2022/07/woman-g9c1c89a51_640.jpg
Venture Capital: OppZo, Which Funds Small Businesses Having Government Contracts, Raises $260M
July 1, 2022     News, Venture Capital

Fintech OppZo brings together investors and small businesses that need working capital loans for their government-facing businesses. Typically located in economically stressed areas of the country, these businesses represent an…

https://dailyalts.com/wp-content/uploads/2022/07/block-chain-gb76db3143_640.jpg
Alternative Investments/Digital: Jacobi To Launch Europe’s First Bitcoin ETF This Month

The Jacobi Bitcoin ETF, from Jacobi Asset Management, will have a number of firsts to its credit when it starts trading this month. It will be the first exchange-traded equity…

https://dailyalts.com/wp-content/uploads/2022/07/r4f167378_rrd.jpg
Artificial Intelligence: John Deere’s Advances in AI Powered Agriculture Machinery
July 1, 2022     Artificial Intelligence, News

John Deere (NYSE: DE) has achieved leadership in automated machinery powered by Artificial Intelligence (AI). The self-driving tractor pictured above was revealed in CES 2022 and has six pairs of…