In this paper, four machine learning algorithms are examined regarding their effectiveness in dealing with a complete lack of sensor drift values for a crucial parameter for ship performance evaluation, such as a ship’s speed through water (STW). A basic Linear Regression algorithm, a more sophisticated ensemble model (Random Forest) and two modern Recurrent Neural Networks i.e., Long Short-Term Memory (LSTM) and Neural Basis Expansion Analysis for Time Series (N-Beats) are evaluated. A computational algorithm written in python language with the use of the Darts library was developed for this scope. The results regarding the selected parameter (STW) are provided on a real- or near-to-real-time basis. The algorithms were able to estimate the speed through water in a progressive manner, with no initial values needed, making it possible to replace the complete missingness of the label data. A physical model developed with the simulation platform of Siemens Simcenter Amesim is used to calculate the ship STW under the real operating conditions of a banker ship type during a period of six months. These theoretically obtained values are used as reference values (“ground-truth” values) to evaluate the performance of each of the four machine learning algorithms examined.