Agents methodologies for e-chartering market design

Abstract

Electronic business and agents are among the most important and exciting areas of research and development in information and communication technology, with considerable potential impact and opportunities for the Maritime sector. This paper proposes the design of a Multi-Agent system for Internet Virtual Chartering Markets (MAVCM). The MAVCM system applies for business-to-business transactions in Maritime markets, and provides mechanisms for Internet-based chartering informational and transactional services. The lifecycle of the proposed system offers a solution for efficiently handling the processes involving a charterer who owns the cargo and employs a shipbroker to find a shipowner to deliver the cargo for a certain freight rate. The objective is to enable Maritime market participants to electronically charter, trade and transport cargos based on information and transactions over Internet via their software agents. © 2007 International Federation for Information Processing.