Fundamental properties and pseudo-polynomial-time algorithm for network containership sailing speed optimization

•Analytical solution for speed optimization of a single ship route.•Bi-section search for the optimal number of ships on a route.•Pseudo-polynomial-time algorithm for optimal speeds in a network. In container liner shipping, bunker cost is an important component of the total operating cost, and bunk...

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Vydané v:European journal of operational research Ročník 250; číslo 1; s. 46 - 55
Hlavný autor: Wang, Shuaian
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: Amsterdam Elsevier B.V 01.04.2016
Elsevier Sequoia S.A
Predmet:
Bunker fuel
Container ships
Containership
Liner shipping
Network flow problem
Optimization
Optimization algorithms
Polynomials
Route optimization
Sailing speed
Studies
Transportation
Transportation problem (Operations research)
Liner shipping
Sailing speed
Bunker fuel
Transportation
Containership
ISSN:0377-2217, 1872-6860
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Shrnutí:•Analytical solution for speed optimization of a single ship route.•Bi-section search for the optimal number of ships on a route.•Pseudo-polynomial-time algorithm for optimal speeds in a network. In container liner shipping, bunker cost is an important component of the total operating cost, and bunker consumption increases dramatically when the sailing speed of containerships increases. A higher speed implies higher bunker consumption (higher bunker cost), shorter transit time (lower inventory cost), and larger shipping capacity per ship per year (lower ship cost). Therefore, a container shipping company aims to determine the optimal sailing speed of containerships in a shipping network to minimize the total cost. We derive analytical solutions for sailing speed optimization on a single ship route with a continuous number of ships. The advantage of analytical solutions lies in that it unveils the underlying structure and properties of the problem, from which a number of valuable managerial insights can be obtained. Based on the analytical solution and the properties of the problem, the optimal integer number of ships to deploy on a ship route can be obtained by solving two equations, each in one unknown, using a simple bi-section search method. The properties further enable us to identify an optimality condition for network containership sailing speed optimization. Based on this optimality condition, we propose a pseudo-polynomial-time solution algorithm that can efficiently obtain an epsilon-optimal solution for sailing speed of containerships in a liner shipping network.
Bibliografia:SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 14
ISSN:0377-2217
1872-6860
DOI:10.1016/j.ejor.2015.10.052