Bunker consumption optimization methods in shipping: A critical review and extensions

Shuaian Wang, Qiang Meng and Zhiyuan Liu

Transportation Research Part E: Logistics and Transportation Review, 2013, vol. 53, issue C, 49-62

Abstract: It is crucial nowadays for shipping companies to reduce bunker consumption while maintaining a certain level of shipping service in view of the high bunker price and concerned shipping emissions. After introducing the three bunker consumption optimization contexts: minimization of total operating cost, minimization of emission and collaborative mechanisms between port operators and shipping companies, this paper presents a critical and timely literature review on mathematical solution methods for bunker consumption optimization problems. Several novel bunker consumption optimization methods are subsequently proposed. The applicability, optimality, and efficiency of the existing and newly proposed methods are also analyzed. This paper provides technical guidelines and insights for researchers and practitioners dealing with the bunker consumption issues.

Keywords: Shipping; Sailing speed; Bunker consumption optimization; Mixed-integer nonlinear programming (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (31)

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DOI: 10.1016/j.tre.2013.02.003

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