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.
A scenario-based dynamic programming model for multi-period liner ship fleet planning
Transportation Research Part E: Logistics and Transportation Review ; 47 , 4 ; 401-413
2010-11-16
13 pages
Article (Journal)
Electronic Resource
English
A scenario-based dynamic programming model for multi-period liner ship fleet planning
Online Contents | 2011
|Multi-period liner ship fleet planning with dependent uncertain container shipment demand
Taylor & Francis Verlag | 2015
|A chance constrained programming model for short-term liner ship fleet planning problems
Online Contents | 2010
|A chance constrained programming model for short-term liner ship fleet planning problems
Taylor & Francis Verlag | 2010
|Liner ship fleet planning : models and algorithms
TIBKAT | 2017
|