This study develops an easy forecasting model using prefectural data in Japan. The Markov chain known as a stochastic model corresponds to the vector auto-regressive (VAR) model of the first order. If the transition probability matrix can be appropriately estimated, the forecasting model using...

Wind power experienced a substantial growth over the past decade especially because it has been seen as one of the best ways towards meeting climate change and emissions targets by many countries. Since wind power is not fully dispatchable, the accuracy of wind forecasts is a key element for the...

Purpose: The bulk cargo shipping industry is characterized by high cost pressure. Chartering vessels at low prices is important to increase the margin of transporting cargo. This paper proposes a three-step, AI-based methodology to support this by forecasting the number of available ships in a...