Indian company Solverminds has launched a new AI-powered software system for the liner shipping market, to assist vessel operators in applying operational data to improve their decision making.
The SEDGE application can be used to extract, transform and load data from multiple sources for analysis, or can be integrated into existing platforms, the company says. It leverages Artificial Intelligence and Machine Learning to examine the complex patterns in shipping operations and perform statistical analysis to visualise data, predict outcomes, and optimise decision making.
The analytics algorithms can be used, for example, to optimise port costs by evaluating and avoiding congested periods and proposing alternate data-backed options, or to find the best price and vendor for container repairs or reefer monitoring, as well as for hedging on bunker supplies.
“For far too long, shipping executives have made multi-million-dollar decisions without having the right data and analysis to assess and evaluate highly complex operations and proactively manage the associated costs and opportunities,” said Vijay Minocha, Chief Commercial Officer for Solverminds Solutions and Technologies.
“SEDGE’s cloud-based AI analytics online platform empowers liner operators to make evaluated decisions across a broad range of operational activities, optimising services to improve efficiency and drive down costs.”