Abstract This paper proposes a more realistic multi-period liner ship fleet planning problem for a liner container shipping company than has been studied in previous literature. The proposed problem is formulated as a scenario-based dynamic programming model consisting of a number of integer linear programming formulations for each single planning period, and the model can be solved efficiently by a shortest path algorithm on an acyclic network. A numerical example is carried out to illustrate the applicability of the proposed model and solution method. The numerical results show that chartering in ships may not always be a better policy for a long-term planning horizon though it is much cheaper than buying ships in the short-term. Purchasing ships seems to be a more profitable investment in the long run.


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    Title :

    A scenario-based dynamic programming model for multi-period liner ship fleet planning


    Contributors:


    Publication date :

    2010-11-16


    Size :

    13 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English





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