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

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 programmi...

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Veröffentlicht in:Transportation research. Part E, Logistics and transportation review Jg. 47; H. 4; S. 401 - 413
Hauptverfasser: Meng, Qiang, Wang, Tingsong
Format: Journal Article
Sprache:Englisch
Veröffentlicht: Elsevier India Pvt Ltd 01.07.2011
Elsevier
Schriftenreihe:Transportation Research Part E: Logistics and Transportation Review
Schlagworte:
Algorithms
Containerschifffahrt
Dynamic programming
Dynamic programming model
Dynamische Optimierung
Fahrzeugflotte
Integer linear programming model
Liners
Linienschifffahrt
Mathematical models
Multi-period liner ship fleet planning
Multi-period liner ship fleet planning Scenario decision tree Dynamic programming model Integer linear programming model
Policies
Purchasing
Scenario decision tree
Ships
Transportation
Multi-period liner ship fleet planning
Scenario decision tree
Integer linear programming model
Dynamic programming model
ISSN:1366-5545, 1878-5794
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Zusammenfassung: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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ISSN:1366-5545
1878-5794
DOI:10.1016/j.tre.2010.12.005