Liner shipping cycle cost modelling, fleet deployment optimization and what-if analysis

Panayotis G Zacharioudakis (), Stylianos Iordanis (), Dimitrios V Lyridis () and Harilaos N Psaraftis ()
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Panayotis G Zacharioudakis: Laboratory for Maritime Transport 9, National Technical University of Athens, School of Naval Architecture and Marine Engineering, Heroon Polytechniou St, Zografou, Athens 15773, Greece.
Stylianos Iordanis: Laboratory for Maritime Transport 9, National Technical University of Athens, School of Naval Architecture and Marine Engineering, Heroon Polytechniou St, Zografou, Athens 15773, Greece.
Dimitrios V Lyridis: Laboratory for Maritime Transport 9, National Technical University of Athens, School of Naval Architecture and Marine Engineering, Heroon Polytechniou St, Zografou, Athens 15773, Greece.
Harilaos N Psaraftis: Laboratory for Maritime Transport 9, National Technical University of Athens, School of Naval Architecture and Marine Engineering, Heroon Polytechniou St, Zografou, Athens 15773, Greece.

Maritime Economics & Logistics, 2011, vol. 13, issue 3, 278-297

Abstract: This article formulates the mathematical model of the liner shipping company cycle cost and attempts to optimize the operational profile of company assets in regards to specific network of routes of cargo flows and vessels portfolio. In other words it attempts to give a practical solution to the modern shipping company fleet deployment problem. This is achieved by developing a generic cost model methodology that aims to minimize total operating costs by using Genetic Algorithms in optimizing various predefined attributes such as operational speed. The finalized model could be applicable to liner shipping companies for optimization purposes of liner networks, as well as for simulation and examination of possible scenarios and what-if analysis. In the era of recession, a demand shock is examined and, interesting results are produced. In further research, this model can estimate the impact of environmental legislation intensification. In the what-if analysis, the model can depict how an initial design of a liner system can be optimized by modifying system attributes to dynamically meet new requirements.

Date: 2011
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