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- Title
Prediction of a Newbuilding Proce of the Bulk Carriers based on Gross Tonnage GT and Main Engine Power.
- Authors
Cepowska, Żaneta; Cepowski, Tomasz
- 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.
- Subjects
CARRIERS; REGRESSION analysis
- Publication
Management Systems in Production Engineering, 2017, Vol 25, Issue 1, p42
- ISSN
2299-0461
- Publication type
Article
- DOI
10.1515/mspe-2017-0006