Bunker fuel cost and freight revenue optimization for a single liner shipping service

Wang, Sainan; Gao, Suixiang; Tan, Tunzi; Yang, Wenguo

doi:10.1016/j.cor.2019.06.003

Cited by 27 publications

(12 citation statements)

References 41 publications

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“…: A similar plot to Figure5except with fuelspeed power curves plotted from the simulated results. The power coefficients are in the range of 2.21 to 3.13, which agree with literature review of container ships byWang et al (2019) andAdland et al (2020).…”

supporting

confidence: 89%

An Artificial Neural Network Based Decision Support System for Cargo Vessel Operations

Fam¹,

Tay²,

Konovessis³

2021

Proceedings of the 31st European Safety and Reliability Conference (ESREL 2021)

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There is increasing interest in understanding fuel consumption from the perspective of increasing energy efficiency on a vessel. Thus the aim of this paper is to present a new framework for data-driven estimation of fuel consumption by employing a combination of (i) traditional statistical analysis and (ii) Artificial Neural Networks. The output of the analysis is the most frequently occurring fuel-speed curves corresponding to the respective operational profile. The inputs to the model consider important explanatory variables like draft, sea current and wind. The methodology is applied to a case study of a fleet of 9000 TEU vessels, in which telemetry data on the fuel consumption, vessel speed, current, wind direction and strength were analysed. The performance of the method is validated in terms of error estimation criterion like R 2 values and against physical phenomena obtained from the data. The results can be used to study the economic and environmental benefits of slow-steaming and or fuel levies, or by extending this part of the model into exergy analysis for a more holistic review of energy saving initiatives.

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supporting

confidence: 89%

An Artificial Neural Network Based Decision Support System for Cargo Vessel Operations

Fam¹,

Tay²,

Konovessis³

2021

Proceedings of the 31st European Safety and Reliability Conference (ESREL 2021)

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“…The numerical simulations focus on the Asia-Northern Europe (AEMX) liner shipping route served by the China Ocean Shipping Co., Ltd. (COSCO) [37]. Figure 5 Table 2 presents the distances between two consecutive ports (n miles) [38] and bunker fuel prices at each port (USD/ton) [39].…”

Section: A Input Data Descriptionmentioning

confidence: 99%

“…[8 000 11 000] U ， [37] Unit container inventory cost: Speed deviation from extreme value: err V (knots) 3 [34] Bunker fuel price discount factor:…”

Section: A Input Data Descriptionmentioning

confidence: 99%

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Vessel Scheduling and Bunker Management With Speed Deviations for Liner Shipping in the Presence of Collaborative Agreements

Zhao

Duan

et al. 2022

IEEE Access

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Vessels face uncertain factors during a voyage, such as bad weather and harsh sea conditions along a route in container liner shipping. As such, the real vessel speed during each leg of a voyage often deviates from the planned one, which may lead to fluctuations in vessel schedule and bunker consumption. This paper investigates the problem of vessel scheduling and bunker management with speed deviations (VSBMSD) for liner shipping in the presence of collaborative agreements. By establishing the worst-case scenario of the maximum bunker consumption function with vessel sailing speed as an independent variable, we develop a mixed-integer nonlinear programming model to minimize the total liner shipping route service cost. A piecewise linear secant approximation method is designed, and then a CPLEX solver is used to solve the problem. The results of the computational experiments conducted for the AEMX route indicate that VSBMSD in the presence of collaborative agreements can enable shipping companies to design vessel schedules reasonably and reduce the total cost of liner shipping route service by at least 2.95% compared to the results from similar studies. INDEX TERMS liner shipping; vessel scheduling; bunker management; speed deviation; collaborative agreement; robust optimization.

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“…In addition to econometric studies like these ones, studies focused on reducing costs by optimizing speed based on the relationship between bunker price and bunker consumption have also attracted great interest in the literature (e.g. Wang et al, 2013;Sheng et al, 2014;Aydin et al, 2017;Wang et al, 2019;Medina et al, 2020). These studies have developed and proposed optimization models using various bunker price and speed scenario, which includes bunker cost minimization and freight income maximization.…”

Section: Literature Reviewmentioning

confidence: 99%

Başlıca Ticari Gemi Tiplerinin Ortalama Filo Hızlarının Modellenmesi ve Analizi

Açık

2021

Gemi Ve Deniz Teknolojisi

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Bu çalışmada, deniz taşımacılığında ana piyasa türleri olan konteyner, kuru yük ve ham petrol filolarının ortalama hızlarını navlun oranı, yakıt fiyatı, filo büyüklüğü ve faiz oranı gibi dış faktörleri kullanarak tahmin ve analiz edilmiştir. Teorik çerçeveye uygun olarak, navlun ve faiz oranları ortalama hızları olumlu yönde etkilerken, yakıt fiyatı ve filo büyüklüğü olumsuz yönde etkilemektedir. Navlun oranı en çok konteyner filosunun ortalama hızını etkilerken, yakıt fiyatı, filo büyüklüğü ve faiz oranı en çok ham petrol filosunun ortalama hızını etkilemektedir; kuru yük filosunun ortalama hızı yakıt fiyatından ve filo büyüklüğünden en az etkilenmektedir; ve konteyner filosunun ortalama hızı faiz oranından en az etkilenmektedir. Genel olarak, faktörler arasındaki katsayı büyüklükleri göz önüne alındığında, üç pazarın ortalama hızlarında en etkili faktör filo büyüklükleridir. Böylece navlun ve yakıt fiyatı çerçevesinde sıkışmış olan ampirik literatüre yeni boyutlar eklenmiştir.

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Bunker fuel cost and freight revenue optimization for a single liner shipping service

Cited by 27 publications

References 41 publications

An Artificial Neural Network Based Decision Support System for Cargo Vessel Operations

An Artificial Neural Network Based Decision Support System for Cargo Vessel Operations

Vessel Scheduling and Bunker Management With Speed Deviations for Liner Shipping in the Presence of Collaborative Agreements

Başlıca Ticari Gemi Tiplerinin Ortalama Filo Hızlarının Modellenmesi ve Analizi

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