Abstract
This paper addresses the fleet renewal problem and particularly the treatment of uncertainty in the maritime case. A stochastic programming model for the maritime fleet renewal problem is presented. The main contribution is that of assessing whether or not better decisions can be achieved by using stochastic programming rather than employing a deterministic model and using average data. Elements increasing the relevance of uncertainty are also investigated. Tests performed on the case of Wallenius Wilhelmsen Logistics, a major liner shipping company, show that solutions to the model we present perform noticeably better than solutions obtained using average values.
| Original language | English |
|---|---|
| Journal | Transportation Science |
| Volume | 50 |
| Issue number | 2 |
| Pages (from-to) | 390-407 |
| Number of pages | 18 |
| ISSN | 0041-1655 |
| DOIs | |
| Publication status | Published - 2016 |
Keywords
- Transportation
- Fleet planning
- Fleet size and mix
- Liner shipping
- Rolling equipment
- Stochastic programming
- Oil well casings
- Ships
- Stochastic models
- Stochastic systems
- Waterway transportation
- Average values
- Deterministic modeling
- Fleet size and mixes
- Maritime transportation
- Stochastic programming model
- Wallenius wilhelmsen
- Fleet operations
- OPERATIONS
- TRANSPORTATION
- PARALLEL MACHINE REPLACEMENT
- CAPACITY EXPANSION PROBLEM
- DECISION SUPPORT SYSTEM
- MODEL
- INDUSTRIAL
- FACILITY
- SIZES
- fleet size and mix
- fleet planning
- liner shipping
- stochastic programming
- rolling equipment