Prediction of a Newbuilding Proce of the Bulk Carriers based on Gross Tonnage GT and Main Engine Power-Reference-Cited by-同舟云学术

Prediction of a Newbuilding Proce of the Bulk Carriers based on Gross Tonnage GT and Main Engine Power

Published:2017-01-23 Issue:1 Volume:25 Page:42-45
ISSN:2450-5781
Container-title:Management Systems in Production Engineering
language:en
Short-container-title:

Author:

Cepowska Żaneta¹,Cepowski Tomasz²

Affiliation:

1. The Association for Praucting of Knowledge About Sea

2. Maritime University of Szczecin

Abstract

Abstract The paper presents mathematical relationships that allow us to forecast the newbuilding price of new bulk carriers, based on data concerning vessels built in 2005-2015. The presented approximations allow us to estimate the price based on a gross tonnage capacity and a main engine power The approximations were developed using linear regression and the theory of artificial neural networks. The presented relations have practical application for estimation of bulk carrier newbuilding price needed in preliminary parametric design of the ship. It follows from the above that the use of artificial neural networks to predict the price of a bulk carrier brings more accurate solutions than linear regression.

Publisher

Walter de Gruyter GmbH

Subject

Management of Technology and Innovation,Industrial and Manufacturing Engineering,Management Information Systems

Reference12 articles.

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