Title:
Norwegian students make machine learning algorithm breakthrough, beating the cape markets by 10%
Author:
Sam Chambers
Published:
Splash, 19 June 2020
https://splash247.com/norwegian-students-make-machine-learning-algorithm-breakthrough-beating-the-cape-markets-by-10/
From the article:
For their master thesis two students at the Norwegian School of Economics, Herman Bomholt and Torsten Thune, deployed machine learning algorithms to simulate the cape markets over the 2017 to 2019 period with the results proving to be about 10% or $1,700 higher per day per vessel than the benchmark Baltic time charter average. The study captured about two thirds of the theoretical maximum potential from optimising the Asia – Australia/Brazil trip sequencing. Importantly, the research did not make use of either AIS or fixture data. It did include various commodity, foreign exchange and other macro data.