Distributionally Robust Joint Chance Constrained Vessel Fleet Deployment Problem

Feifeng Zheng (), Zhaojie Wang (), E. Zhang () and Ming Liu
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Feifeng Zheng: Glorious Sun School of Business & Management, Donghua University, Shanghai 200051, P. R. China
Zhaojie Wang: Glorious Sun School of Business & Management, Donghua University, Shanghai 200051, P. R. China
E. Zhang: School of Information Management & Engineering, Shanghai University of Finance and Economics, Shanghai 200433, P. R. China
Ming Liu: School of Economics & Management, Tongji University, Shanghai 200092, P. R. China

Asia-Pacific Journal of Operational Research (APJOR), 2022, vol. 39, issue 06, 1-19

Abstract: This work investigates the problem of vessel fleet deployment for liner shipping. The objective is to minimize the total cost, i.e., the sum of vessel chartering cost and vessel-route operating cost. In the considered problem, the shipment demand for each route is uncertain and its distribution is unknown. Due to lacking historical data, we use the moment-based ambiguity set to characterize the unknown distributions of demands. We then introduce a distributionally robust model and propose a new approximation approach to solve this problem. Finally, numerical experiments are conducted to demonstrate the performance of our approximation approach.

Keywords: Liner shipping; fleet deployment; chance constraint; distributionally robust (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (4)

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DOI: 10.1142/S021759592250004X

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