The impact of slow ocean steaming on delivery reliability and fuel consumption |
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Institution: | 1. Faculty of Marine Engineering, Vietnam Maritime University, Haiphong 180000, Vietnam;2. Marine Research Institute, Vietnam Maritime University, Haiphong 180000, Vietnam;1. College of Power and Energy Engineering, Harbin Engineering University, Harbin, 150001, Heilongjiang, China;2. College of Shipbuilding Engineering, Harbin Engineering University, Harbin, 150001, Heilongjiang, China |
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Abstract: | With a dominant volume of global transportation being conducted by sea, ocean container transport greatly impacts the global economy. Since sea vessels are drastically more fuel efficient when traveling at lower speeds, slow steaming has become a widely adopted practice to reduce bunker costs. However, this leads to a longer transportation time, which together with the unpredictability of the delay has been a big challenge. We propose a model to quantify the relationship among shipping time, bunker cost and delivery reliability. Our findings lead to a simple and implementable policy with a controlled cost and guaranteed delivery reliability. |
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Keywords: | Slow steaming Shipping time Bunker cost Delivery reliability |
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