PALO ALTO, Calif., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Bearing AI, the leading maritime artificial intelligence solutions provider, today unveiled its AI-powered Cargo Prediction tool, designed to empower tramp chartering managers to outperform competitors in the high-stakes spot market. With just one click, users can accurately predict a vessel's next loading port, driving more competitive pricing and superior strategic positioning.
Unlock Competitive Advantage with Predictive AI
In today's fast-paced shipping industry, winning bids require competitive pricing, but maximizing TCE over time hinges on effective planning and vessel utilization. Bearing AI's Cargo Prediction replaces the standard return route backhaul in TCE calculations with an AI-powered prediction of the next loading port, enabling chartering managers to bid more competitively and retain more of their profits.
With Cargo Prediction, chartering managers can:
- Win more bids: Gain a competitive edge by predicting the next loading port before bidding.
- Maximize TCE over time: Minimize ballast voyages and optimize backhaul strategies with precise cargo demand insights.
- Optimize vessel positioning: Seize future cargo opportunities and capitalize on unexpected demand spikes across global regions.
"With AI-powered Cargo Prediction, we’re giving chartering managers new insights to outmaneuver the competition and make every voyage more profitable," said Aleksandar-Saša Milaković, Senior Product Manager and Naval Architect at Bearing AI. “It’s not just about winning the next bid—it’s about seeing what’s ahead, positioning strategically, and unlocking the full earning potential of every vessel."
Unlike fragmented market reports, Bearing’s AI-powered solution accurately predicts demand for each vessel and identifies where to secure the next cargo. Key product features include:
- One-click cargo demand forecasts: Easily access demand data for a specific vessel by region and time window and compare it to historical averages or seasonality expected by the competition.
- Visual map with color coding: Spot unexpected demand spikes and dips for a vessel across regions, color-coded on a global map.
- Region-specific insights: Minimize ballast by identifying opportunities near discharge ports.
- Leverage within your TCE calculator: Calculate TCE with an accurate next loading port instead of return route, and bid competitively to win.
Discover how this innovative solution can revolutionize tramp chartering by efficiently managing cargo demand. Visit our website for more: https://bearing.ai/cargo-prediction.
About Bearing AI
Bearing AI is the leading operational solutions provider for the modern shipping era. Its powerful platform leverages proprietary advanced AI models to solve the most pressing maritime challenges, such as schedule planning and optimization, emissions management, environmental compliance, and more. Bearing AI works with some of the world’s leading shipping companies, including “K” Line and IINO Lines, and is backed by Mitsui & Co. Ltd., a global business leader with deep ties to the shipping industry, and the AI Fund, a venture capital firm led by AI pioneer Andrew Ng. For more information on how Bearing AI's technology sets the standard for efficient fleet management and compliance, visit our website at https://bearing.ai/.
Media Contact:
Brianna Bruinsma
Firebrand Communications for Bearing AI
bearing-ai@firebrand.marketing
