This paper aims to study the implication of the stochastic gross-profit-per-day objective on the ship profitability and the ship capacity and speed.
The paper has used the mathematical model and the solution methodology given by El Noshokaty, 2013, 2014, 2017a, 2017b, and SOS, 2019.
The paper finds that if the ship owner follows the rate concept and the cargo demand forecast, he can improve the profitability of his company and be able to select the proper capac…
scite is a Brooklyn-based startup that helps researchers better discover and evaluate scientific articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by researchers from dozens of countries and is funded in part by the National Science Foundation and the National Institute of Drug Abuse of the National Institutes of Health.