Feeder Ship Size Optimization in Maritime Markets with Uncertainty

Hongtao Hu, Jiao Mo () and Lufei Huang ()
Additional contact information
Hongtao Hu: Logistics Engineering College, Shanghai Maritime University, Shanghai 201306, P. R. China
Jiao Mo: Institute Of Logistics Science and Engineering, Shanghai Maritime University, Shanghai 201306, P. R. China
Lufei Huang: School of Management, Shanghai University, Shanghai 200444, P. R. China

Asia-Pacific Journal of Operational Research (APJOR), 2021, vol. 38, issue 03, 1-25

Abstract: This paper considers the ship size optimization problem for a liner shipping company that provides feeder service between one hub port and one feeder port. In the maritime market with uncertainty, this problem becomes more challenging. This research first analyzes the decision behaviors of the shipping company. Then, a stochastic dynamic programming method is proposed to calculate the expected total volume of containers transported within the planning horizon. Using the calculated volumes as input parameters calculate the profit of each ship sizes and then determine the suitable ship size for the feeder route. Numerical experiments are performed to validate the effectiveness of the proposed method and the efficiency of the proposed algorithm.

Keywords: Uncertain demands; allowable due time of cargoes; feeder containership size optimization; stochastic dynamic programming (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S021759592040014X
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:apjorx:v:38:y:2021:i:03:n:s021759592040014x

Ordering information: This journal article can be ordered from

DOI: 10.1142/S021759592040014X

Access Statistics for this article

Asia-Pacific Journal of Operational Research (APJOR) is currently edited by Gongyun Zhao

More articles in Asia-Pacific Journal of Operational Research (APJOR) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().