Optimizing containership size and speed : model formulation and implementation
Part of : WSEAS transactions on business and economics ; Vol.4, No.7, 2007, pages 111-116
Issue:
Pages:
111-116
Abstract:
One of the most important decisions for shipowners is to determine how big a containership toorder. The optimal containership problem represents a trade-off between the cost and revenue resulting fromsize and speed. In reality, there is a tendency toward increasing containership size and speed, which is resultedfrom some factors related to profit. However, most of the past studies devoted their attention to the problemfrom the cost perspective. These models omitted the effect of ship speed on profit, and might result ininadequate solutions to the problem. Based on the cost-volume-profit analysis, a nonlinear programming modelis formulated to approach the problem. The objective function is a strictly concave function with a globallyunique optimal. An example of the Trans-Pacific Route is employed to test the model’s formulation. The resultsprovide shipowners with a beneficial reference for planning deployment and routing of big containerships.
Subject (LC):
Keywords:
οptimal containership, nonlinear programming, ship speed, concave function
Notes:
Περιέχει γραφήματα, πίνακες και βιβλιογραφία
