A rolling horizon heuristic for the stochastic cargo mix problem

Jonas Christensen, Alan Erera and Dario Pacino

Transportation Research Part E: Logistics and Transportation Review, 2019, vol. 123, issue C, 200-220

Abstract: This paper presents the stochastic cargo-mix problem, which aims at analysing the cargo composition needed for a liner vessel to maximise its revenue on a given service. The unreliability with respect to the demand forecast is included by considering the cargo-flows as being stochastic instead of deterministic. We also take into account accepted bookings, draft, stability and capacity constraints. A compact formulation of the problem is shown to be too complex to solve industrially sized instances. Instead, a rolling horizon matheuristic is presented, and the computational results show that it can achieve high-quality results in reasonable time.

Keywords: Liner shipping; Stochastic optimisation; Rolling horizon; Matheuristic; Cargo composition; Maritime logistic; Block stowage; Stowage planning (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:transe:v:123:y:2019:i:c:p:200-220

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DOI: 10.1016/j.tre.2018.10.010

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