Transformations in artificial intelligence in the chartering industry are increasingly changing processes and how data and information are interacted with. In this context, specialized forums such as "Chartering Spotlight" in Singapore have examined the impacts of this technology on the industry and the importance of human relationships and experiences in this area.
Competitive Challenges in the Industry
Torbjørn Jervik, CEO of Western Bulk, clearly pointed out that shared platforms and new technologies have led chartering offices to achieve similar results. He said: "We all use two or three similar platforms, and often the prices are just a few cents apart." This indicates that the interpretation of information remains a distinguishing factor in competition.
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He pointed to the importance of digital tools and emphasized that these tools should act as a complement to human judgment and experience. Jervik added: "Young people need to learn how to do calculations on paper; otherwise, they will lose a true understanding of work."
The Importance of Data and Human Relationships
Jesper Klarup, Vice President of Chartering and CEO of Singapore at Fednav, also emphasized the importance of data quality and composition. He stated that large operators can obtain valuable information from their operations that can be combined with external platforms. "If you only rely on the data available in these systems, you cannot beat the market." He reminded that competitive advantage still requires predictive information derived from customers and relationships.
Michel Gonzalez, Head of Chartering and Operations in APAC and the Middle East for Vale, emphasized that the main challenge is no longer finding information. He said: "Data alone does not make better decisions; we are now faced with a plethora of data." He described Vale's approach based on three pillars: data quality, integration, and experience.
Reports indicate that AI helps process vast amounts of information in a fraction of a second, but Gonzalez rejected the idea of entrusting chartering processes to algorithms, stating: "We cannot let AI set contracts while we go to the beach. AI can model scenarios, but it is weak in understanding context, geopolitics, and business experiences."
Willem Vermat, Transport Manager at Heidelberg Materials Trading, believes that chartering is a combination of "science and art." He said: "The better performance of ships influences choices, but it is still economics that ultimately decides." He also noted that personal relationships remain important in competitive conditions.
Steven Fletcher, Chief Commercial Officer at AXSMarine, pointed to the immediate value of AI in structuring unorganized information and predicted that in the next five years, companies will use AI to record conversations and institutional knowledge. He emphasized that the human element in this process remains vital, and "people buy from those they like."
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