A Comprehensive Review and Hybrid Methodological Approach to the Use of Artificial Neural Networks (ANN) in Maritime Transportation Industry»


Akyar D. A., Çetin İ. B.

I. International Maritime and Logistics Congress, MARLOG Congress’23, Zonguldak, Turkey, 22 - 23 September 2023, pp.223-238

  • Publication Type: Conference Paper / Full Text
  • City: Zonguldak
  • Country: Turkey
  • Page Numbers: pp.223-238
  • Dokuz Eylül University Affiliated: Yes

Abstract

International shipping markets are known to be highly volatile and unpredictable. Hence, many investors and stakeholders struggle when analyzing or sensing the market dynamics, thereby making periodical mistakes. The Artificial Neural Network (ANN) model is increasingly being applied in many industries as a highly effective decision support system. ANN is used for the prediction, classification, association, interpretation, and filtering processes of data. In recent years, ANN has begun to be utilized in the maritime industry as well. However, despite its numerous benefits, the number of studies utilizing the ANN method in maritime transport remains quite limited. Therefore, we aim to examine the studies conducted with the ANN method in maritime transportation and reveal the research themes, gaps as well as diverse methodological approaches. As a result, to guide future studies, we point out potential improvements in the methodological approach and suggest that combining the ANN with complementary methods could improve the model validity and performance of research results. Such utilization could benefit sectoral forecasting, investment decision processes, feasibility research, and practices.