Planning for charters: A stochastic maritime fleet composition and deployment problem

Wang, Xin; Fagerholt, Kjetil; Wallace, Stein W.

doi:10.1016/j.omega.2017.07.007

Cited by 32 publications

(17 citation statements)

References 29 publications

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“…A significant portion of the fleet deployment studies tackled additional decision problems, such as vessel routing, network design, empty container repositioning, etc. (Álvarez, 2009;Gelareh and Pisinger, 2011;Gelareh et al, 2013;Huang et al, 2015;Wang et al, 2018a;Zhen et al, 2019a,b). Álvarez (2009) aimed to design optimal routes for container vessels and determine the required number of vessels as well as the vessel type.…”

Section: Fleet Deploymentmentioning

confidence: 99%

“…Ng and Lin (2018) approximated lower and upper bounds on the optimal shipping cost using a fleet deployment model, where only the conditional demand information was available. Wang et al (2018a) presented a vessel chartering model, which integrated fleet composition and sailing speed optimization. Zhen et al (2019a) modeled a demand fulfillment and fleet deployment problem, where the container overload risk was accounted for.…”

Section: Fleet Deploymentmentioning

confidence: 99%

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Holistic tactical-level planning in liner shipping: an exact optimization approach

et al. 2020

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Effective liner shipping is important for the global seaborne trade. The volume of cargoes transported by liner shipping has been increasing over the past decades. Liner shipping companies face three levels of decision problems, including strategic, tactical, and operational problems. The tactical-level decisions are commonly made every three to 6 months. These decisions include: (1) port service frequency determination; (2) fleet deployment; (3) sailing speed optimization; and (4) vessel schedule design. Most of the concurrent liner shipping studies have addressed the tactical-level decision problems separately. Even though a few studies have proposed joint planning models that capture multiple decision problems at the same time, none of the conducted studies has integrated all the four tactical-level decision problems. To address this gap in the state-of-the-art, this study presents a holistic optimization model that addresses all the tactical-level liner shipping decision problems, aiming to maximize the total profit obtained from liner shipping services. The key route service cost components, found in the liner shipping literature, are considered in this study, which include: (1) vessel operational cost; (2) vessel chartering cost; (3) port handling cost; (4) port late arrival cost; (5) fuel consumption cost; (6) container inventory costs in sea and at ports of call; and (7) emission costs in sea and at ports of call. An exact optimization approach is adopted for the developed mathematical model. The computational experiments, conducted for a set of Asia-North America liner shipping routes, showcase the efficiency of the proposed approach and offer some important managerial insights.

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Section: Fleet Deploymentmentioning

confidence: 99%

Section: Fleet Deploymentmentioning

confidence: 99%

Holistic tactical-level planning in liner shipping: an exact optimization approach

et al. 2020

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“…Wang et al [38] also present a chartering problem involving the composition and deployment of the marine fleet, taking into account market uncertainties. The authors propose a two-stage stochastic programming model and present a computational study based on the case of Odfjell, a leading chemical transport company in Bergen, Norway.…”

Section: Optimization Solution For Similar Problemsmentioning

confidence: 99%

“…The optimization techniques were the most used solution approaches in the maritime transport problems where the aspects pointed out in Table 3 were observed. Some techniques with great potential to be used in the proposed problem were identified, such as those that consider the uncertainties in the method itself: dynamic programming with scenario generation [15], multi-stage stochastic programming [35] and two-stage stochastic programming [38]; the technique that addresses uncertainties by combining different methods: mixed integer nonlinear programming, Monte Carlo simulation, and conditional risk analysis [11]; and those that consider more than one objective in the mathematical modeling of the problem: multi-objective optimization [33][34][36][37].…”

Section: Multi-approach Solutionmentioning

confidence: 99%

Optimum Composition of Charter Contracts for the Renewal of the Fleet of Offshore Support Vessels Considering Uncertainties: A Literature Review

Souza¹,

Vaccaro²,

Rocha³

et al. 2019

IJHT

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This article reviews the literature on the Mendeley, Science Direct and Scopus databases on solutions to the optimal composition problem of offshore support charter contracts published between 2008 and 2018. This problem is relevant to the ongoing fleet renewal process, in terms of associated costs and fleet flexibility, in the context of oil and gas exploration and production. The problem is subject to uncertainties related to the demand to be met and to charter prices. The literature presents solutions that can be applied to parts of the problem, however a satisfactory integral solution was not found. The analysis of the literature and the characteristics of the problem indicate the construction of a solution multi-approach method as a viable way to treat the complexity of the problem.

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“…Caso se opte por habilitar o porto de Suape para abastecimentos de navios, é possível estender as economias a pelo menos 4 milhões de reais anuais adicionais. (Wang et al, 2017). Sendo uma empresa verticalizada, a Petrobras é também fornecedora de combustível marítimo (óleo combustível marítimo e diesel marítimo) para suas próprias embarcações e para terceiros no país.…”

Section: Introductionunclassified

Abastecimento De Navios Na Petrobrás: Modelo De Decisão Baseado Em Custos

MONTE¹

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The main goal of this dissertation is to improve the usage of Petrobras' crude oil and oil products short sea fleet through a new cost model and an operation decision tool regarding its refueling activities. Currently, it is common practice to deviate the ships from their transportation route to refuel, given the lack of refueling structure in 59 of the 73 ports and platforms in which the short sea fleet operates. Until this moment, the refueling decision wasn't supported by any tool and there was little transparency regarding the cost impact to the decision makers. This action research is conducted within the context of practice of the ship operations and ship scheduling areas. This works' contributions include a refueling cost model, that is later unfolded in a technological product that includes a Decision Support Tool that helps to decide when and which Fuel Oil quantity to refuel. The dissertation also designs a standardized decision flow, that results in a 14,8 million Reais yearly saving potential when applied to the 2017 routes, no investment needed. To verify the adhesion of the proposed flow, 6.318 port calls made by 114 vessels were analysed. Despite the larger number of refueling operations and total fuel quantity proposed, the cost reduction is verified due to the elimination of the port calls made exclusively for refueling. If the option is made to enable refueling activity in the port of Suape, it is possible to further increase the yearly savings in at least 4 million Reais.

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Planning for charters: A stochastic maritime fleet composition and deployment problem

Cited by 32 publications

References 29 publications

Holistic tactical-level planning in liner shipping: an exact optimization approach

Holistic tactical-level planning in liner shipping: an exact optimization approach

Optimum Composition of Charter Contracts for the Renewal of the Fleet of Offshore Support Vessels Considering Uncertainties: A Literature Review

Abastecimento De Navios Na Petrobrás: Modelo De Decisão Baseado Em Custos

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