AI disruption in the maritime sector – the impact of AI on chartering practices in Danish shipping

Background
The development of data-driven decision support systems has been the subject of increasing interest in the shipping industry in recent years. Most recently, the launch of ChatGPT in November 2022 has attracted a lot of attention. The software collects data and reveals patterns that can be used to optimise processes and support decision-making.

The project
The project investigates how Chat GPT can be utilised in ship chartering. The project is divided into two work packages: WP1 qualitatively investigates the potentials and barriers to using chat GPT in specific chartering activities across the different segments. WP2 contains a quantitative analysis of how the use of chatGPT affects rates, commissions and transaction patterns over time.

Expected Results
The project will provide an empirically grounded analysis that can provide Danish shipping companies and brokerage firms with insights into the potential applications of AI solutions such as ChatGPT for specific chartering activities. Furthermore, the project will provide a quantitative analysis of how the use of chat GPT affects rates, commissions and transaction patterns over time.