A rolling horizon heuristic for the stochastic cargo mix problem

Jonas Mark Christensen*, Alan Erera, Dario Pacino

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

This paper presents the stochastic cargo-mix problem, which aims at analysing the cargo composition needed for a liner vessel to maximise its revenue on a given service. The unreliability with respect to the demand forecast is included by considering the cargo-flows as being stochastic instead of deterministic. We also take into account accepted bookings, draft, stability and capacity constraints. A compact formulation of the problem is shown to be too complex to solve industrially sized instances. Instead, a rolling horizon matheuristic is presented, and the computational results show that it can achieve high-quality results in reasonable time.
Original languageEnglish
JournalTransportation Research. Part E: Logistics and Transportation Review
Volume123
Pages (from-to)200-220
ISSN1366-5545
DOIs
Publication statusPublished - 2019

Cite this

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title = "A rolling horizon heuristic for the stochastic cargo mix problem",
abstract = "This paper presents the stochastic cargo-mix problem, which aims at analysing the cargo composition needed for a liner vessel to maximise its revenue on a given service. The unreliability with respect to the demand forecast is included by considering the cargo-flows as being stochastic instead of deterministic. We also take into account accepted bookings, draft, stability and capacity constraints. A compact formulation of the problem is shown to be too complex to solve industrially sized instances. Instead, a rolling horizon matheuristic is presented, and the computational results show that it can achieve high-quality results in reasonable time.",
author = "Christensen, {Jonas Mark} and Alan Erera and Dario Pacino",
year = "2019",
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language = "English",
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pages = "200--220",
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A rolling horizon heuristic for the stochastic cargo mix problem. / Christensen, Jonas Mark; Erera, Alan; Pacino, Dario.

In: Transportation Research. Part E: Logistics and Transportation Review, Vol. 123, 2019, p. 200-220.

Research output: Contribution to journalJournal articleResearchpeer-review

TY - JOUR

T1 - A rolling horizon heuristic for the stochastic cargo mix problem

AU - Christensen, Jonas Mark

AU - Erera, Alan

AU - Pacino, Dario

PY - 2019

Y1 - 2019

N2 - This paper presents the stochastic cargo-mix problem, which aims at analysing the cargo composition needed for a liner vessel to maximise its revenue on a given service. The unreliability with respect to the demand forecast is included by considering the cargo-flows as being stochastic instead of deterministic. We also take into account accepted bookings, draft, stability and capacity constraints. A compact formulation of the problem is shown to be too complex to solve industrially sized instances. Instead, a rolling horizon matheuristic is presented, and the computational results show that it can achieve high-quality results in reasonable time.

AB - This paper presents the stochastic cargo-mix problem, which aims at analysing the cargo composition needed for a liner vessel to maximise its revenue on a given service. The unreliability with respect to the demand forecast is included by considering the cargo-flows as being stochastic instead of deterministic. We also take into account accepted bookings, draft, stability and capacity constraints. A compact formulation of the problem is shown to be too complex to solve industrially sized instances. Instead, a rolling horizon matheuristic is presented, and the computational results show that it can achieve high-quality results in reasonable time.

U2 - 10.1016/j.tre.2018.10.010

DO - 10.1016/j.tre.2018.10.010

M3 - Journal article

VL - 123

SP - 200

EP - 220

JO - Transportation Research. Part E: Logistics and Transportation Review

JF - Transportation Research. Part E: Logistics and Transportation Review

SN - 1366-5545

ER -