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Japanese shipper Mitsui O.S.K. Lines (MOL) has signed a technology consulting agreement with Professor Tomoharu Naga of the Yokohama National University Graduate School of Environment and Information Sciences.

MOL has been working with Professor Nagao on the analysis and implementation of big data in the ocean shipping sector. MOL sees information and communications technology (ICT) as a priority in its aim to become a “corporate group of competitive No.1 businesses.”

Tomoharu Nagao has pioneered numerous advanced calculation models in the field of machine learning. Advanced machine learning is considered the next step in the artificial intelligence (AI) development, leading to autonomous solution of problems.

Dear AuctionExport Dealers,

Our office will be closed on Monday September 3rd to celebrate Labor Day. Regular working hours will resume on Tuesday, September 4th.

We wish you happy holidays!

Venta Maersk Starts Historic Arctic Voyage

Danish shipping major has dared to go places where others haven’t, which is definitely the case with its latest test run through the Northern Sea Route.

Despite that the trip is of exploratory nature, if a company like Maersk is exploring the commercial route viability and this could indicate a pick up in the route’s attractiveness for container shipping

Arctic waters have so far been used mostly by tankers and, most recently, by passenger ships.

Considering that container shipping is currently looking into the ways of boosting profitability and cutting costs especially for fuel, the lane would be very attractive as it shortens the duration of the trip by around 24 percent from Northeast Europe to Asia compared to the Suez Canal.

Consequently, container shipping companies would be able to save money and time.

Venta Maersk departed Vladivostok earlier today heading for the Northern Sea Route. Maersk said earlier that the ship’s trip would last for over a month. The ship is expected to pass the Bering Strait on or around September 1, 2018 and its planned arrival in Saint Petersburg is set for the end September.

Smart Bill of Lading Trial CargoX, a Slovenian-based supplier of blockchain technology, has completed a container test shipment using a Smart Bill of Lading. The container's route took it from Shanghai, China to Koper, Slovenia (EU) aboard Evergreen's containership Ever Safety. CargoX stated: “...our CargoX Smart B/L™ solution... will now be available to all logistics and shipping companies who want to reduce their Bill of Lading issuing and processing costs by up to 85 pct, as well as save weeks waiting for the document, and who also want to have complete security and document ownership transfer capabilities.”