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Liner shipping cargo allocation with service levels and speed optimization |
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| Affiliation: | 1. Research Group Logistics, Hasselt University, Campus Diepenbeek, Agoralaan building D, Diepenbeek 3590, Belgium;2. Research Foundation Flanders (FWO), Egmontstraat 5, Brussels 1000, Belgium;3. Department of Business Administration, University of Vienna, Oskar-Morgenstern-Platz 1, Vienna 1090, Austria;1. McCombs School of Business, University of Texas at Austin, Austin, TX 78712, USA;2. Department of Management Engineering, Technical University of Denmark, Kgs. Lyngby, Denmark;1. Strome College of Business, Old Dominion University, Norfolk, VA 23529, USA;2. Department of Civil and Environmental Engineering, National University of Singapore, Singapore 117576, Singapore |
| Abstract: | The cargo allocation problem is a key strategic problem that determines the profitability of a liner shipping network. We present a novel mixed-integer programming model for this problem that introduces service levels for transit time requirements and optimizes the vessel speed on each leg of a service. These extensions to the cargo allocation problem greatly increase its realism and value for carriers. We evaluate our model on realistic data from the LINER-LIB and perform a sensitivity analysis of transit times versus bunker costs. Furthermore, we show how carriers can use our model to make data driven decisions in their operations. |
| Keywords: | OR in maritime industry Liner shipping Cargo allocation Service levels Speed optimization |
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