Globally, shipping companies earn over $100B USD by transporting bulk cargoes. The freight rates are volatile and a 20% change in two weeks is common.
Traditionally, companies rely on intuition, analyst reports and seasonality to forecast rates. At QuantShip, we use proprietary ML algorithms similar to quant hedge funds to predict freight rates and help companies optimize the timing of their bookings. This can earn 10% additional revenue for the companies.
In just over 3 months, we have signed multiple contracts with different companies; including one of the largest ship-owners in the world.