Bunker consumption optimization methods in shipping: A critical review and extensions |
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| Institution: | 1. School of Mathematics and Applied Statistics, University of Wollongong, Wollongong, NSW 2522, Australia;2. Department of Civil and Environmental Engineering, National University of Singapore, Singapore 117576, Singapore;3. Institute of Transport Studies, Department of Civil Engineering, Monash University, Clayton, Victoria 3800, Australia;1. Xi?an Jiaotong–Liverpool University, 111 Ren Ai Road, Suzhou Industrial Park, Suzhou, Jiangsu 215123, China;2. Department of Management Engineering, Technical University of Denmark, 2800 Kgs. Lyngby, Denmark;3. Department of Transport, Technical University of Denmark, 2800 Kgs. Lyngby, Denmark;1. Department of Civil and Environmental Engineering, National University of Singapore, Singapore 117576, Singapore;2. Strome College of Business, Old Dominion University, Norfolk, VA 23529, USA;3. Department of Industrial Engineering and Logistics Management, The Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong |
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| Abstract: | It is crucial nowadays for shipping companies to reduce bunker consumption while maintaining a certain level of shipping service in view of the high bunker price and concerned shipping emissions. After introducing the three bunker consumption optimization contexts: minimization of total operating cost, minimization of emission and collaborative mechanisms between port operators and shipping companies, this paper presents a critical and timely literature review on mathematical solution methods for bunker consumption optimization problems. Several novel bunker consumption optimization methods are subsequently proposed. The applicability, optimality, and efficiency of the existing and newly proposed methods are also analyzed. This paper provides technical guidelines and insights for researchers and practitioners dealing with the bunker consumption issues. |
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