The foreign non-fuel cargo-traffic demand of the major British seaports in 1980 and 1985, a Markov Chain approach

Projections of the future traffic demand of British seaports are of great importance to port management bodies because of the huge capital investment required for installing modern port facilities. In this paper, the author uses a first order Markov Chain model to forecast the non-fuel cargo traffic demand of the major British seaports in 1980 and 1985.