Liner shipping cycle cost modelling, fleet deployment optimization and what-if analysis

Panayotis G. Zacharioudakis, Stylianos Iordanis, Dimitrios V. Lyridis, Harilaos N. Psaraftis

Research output: Contribution to journalJournal articleResearchpeer-review


This article formulates the mathematical model of the liner shipping company cycle cost and attempts to optimize the operational profile of company assets in regards to specific network of routes of cargo flows and vessels portfolio. In other words it attempts to give a practical solution to the modern shipping company fleet deployment problem. This is achieved by developing a generic cost model methodology that aims to minimize total operating costs by using Genetic Algorithms in optimizing various predefined attributes such as operational speed. The finalized model could be applicable to liner shipping companies for optimization purposes of liner networks, as well as for simulation and examination of possible scenarios and what-if analysis. In the era of recession, a demand shock is examined and, interesting results are produced. In further research, this model can estimate the impact of environmental legislation intensification. In the what-if analysis, the model can depict how an initial design of a liner system can be optimized by modifying system attributes to dynamically meet new requirements.
Original languageEnglish
JournalMaritime Economics & Logistics
Issue number3
Pages (from-to)278–297
Publication statusPublished - 2011
Externally publishedYes


  • Liner shipping
  • Fleet deployment
  • Optimization
  • Genetic algorithms
  • Cost model
  • Liner network


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