An utility-based decision support sustainability model in slow steaming maritime operations |
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| Institution: | 1. Department of Supply Chain Management, School of Decision Science, Hang Seng Management College, Hong Kong;2. Department of Applied Mathematics, The Hong Kong Polytechnic University, Hung Hom, Hong Kong;3. Department of Industrial and Manufacturing Systems Engineering, The University of Hong Kong, Pokfulam Road, Hong Kong;4. Orient Overseas Container Line Limited, United Arab Emirates;1. Royal HaskoningDHV, UK;2. Autorità Portuale di Venezia, Italy;1. School of Management, Huazhong University of Science and Technology, Wuhan 430074, China;2. Institute of Transport and Logistics Studies, University of Sydney, Australia |
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| Abstract: | This paper analyses slow steaming sustainability initiatives and generalizes the traditional discrete cost-based decision support model into novel continuous utility-based models. Two models based on logarithmic and linear utility functions are developed for risk-averse and risk-neutral decision makers respectively. The models, considering fuel consumption, carbon emission, and on time delivery, are applied to a Trans-pacific trade service route. A sensitivity analysis is conducted on parameters of sailing distance, expected transit time, quantity, and emission policies. The model contributes to ship liners on the optimal speed decisions in continuous utility-based slow steaming operations. |
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| Keywords: | Carbon emission Sustainability Maritime transport Utility Fuel consumption |
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