Soshianest Launches AI Based Shipping Predictions
Vancouver based start-up, Soshianest Enterprise Miner Inc. (SEM) has launched its market intelligence services that provides predictions for future shipping freight rates and time charter rates. Based on artificial intelligence and deep learning techniques, the service brings the cutting-edge tools from the world of machine learning to the world of shipping. According to founder and director Dr. Payman Eslami,
SEM has already started providing predictions for various routes of Chemical tankers, Container ships and Bulk carriers. He said that they are currently working on building models for Oil tankers and Gas carriers, which will soon be available to clients in the shipping industry. The predictions are provided at monthly, quarterly and annual level for as much as 3 to 5 years into the future. Soshianest’s predictions are based on both expert domain knowledge as well as data – ranging from global economic indicators to shipbuilding trends.
Talking about the reliability of the predictions, Dr Eslami said that Soshianest has a rigorous process of tracking the accuracy of the models on a monthly basis. Any model whose prediction accuracy falls below a certain threshold is analysed and re-trained before the predictions are provided to the clients. SEM currently provides a monthly report with predictions on some topline routes, which can be found on their website https://soshianest-forecast.com/. They are also currently providing free trials of their interactive online dashboard for industry stakeholders.