Scheduling Ocean Transportation of Crude Oil

Gerald G. Brown, Glenn W. Graves and David Ronen
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Gerald G. Brown: Naval Postgraduate School, Monterey, California 93943-5100
Glenn W. Graves: University of California, Los Angeles, California 90024
David Ronen: Naval Postgraduate School, Monterey, California 93943-5100

Management Science, 1987, vol. 33, issue 3, 335-346

Abstract: A crude oil tanker scheduling problem faced by a major oil company is presented and solved using an elastic set partitioning model. The model takes into account all fleet cost components, including the opportunity cost of ship time, port and canal charges, and demurrage and bunker fuel. The model determines optimal speeds for the ships and the best routing of ballast (empty) legs, as well as which cargos to load on controlled ships and which to spot charter. All feasible schedules are generated, the cost of each is accurately determined and the best set of schedules is selected. For the problems encountered, optimal integer solutions to set partitioning problems with thousands of binary variables have been achieved in less than a minute.

Keywords: transportation: planning; set partitioning; enumerative methods (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:33:y:1987:i:3:p:335-346

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