An utility-based decision support sustainability model in slow steaming maritime operations

Eugene Y.C. Wong, Allen H. Tai, Henry Y.K. Lau and Mardjuki Raman

Transportation Research Part E: Logistics and Transportation Review, 2015, vol. 78, issue C, 57-69

Abstract: This paper analyses slow steaming sustainability initiatives and generalizes the traditional discrete cost-based decision support model into novel continuous utility-based models. Two models based on logarithmic and linear utility functions are developed for risk-averse and risk-neutral decision makers respectively. The models, considering fuel consumption, carbon emission, and on time delivery, are applied to a Trans-pacific trade service route. A sensitivity analysis is conducted on parameters of sailing distance, expected transit time, quantity, and emission policies. The model contributes to ship liners on the optimal speed decisions in continuous utility-based slow steaming operations.

Keywords: Carbon emission; Sustainability; Maritime transport; Utility; Fuel consumption (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (12)

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DOI: 10.1016/j.tre.2015.01.013

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