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A decision support methodology for strategic planning in maritime transportation

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Author Info

  • Fagerholt, Kjetil
  • Christiansen, Marielle
  • Magnus Hvattum, Lars
  • Johnsen, Trond A.V.
  • Vabø, Thor J.
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    Abstract

    This paper presents a decision support methodology for strategic planning in tramp and industrial shipping. The proposed methodology combines simulation and optimization, where a Monte Carlo simulation framework is built around an optimization-based decision support system for short-term routing and scheduling. The simulation proceeds by considering a series of short-term routing and scheduling problems using a rolling horizon principle where information is revealed as time goes by. The approach is flexible in the sense that it can easily be configured to provide decision support for a wide range of strategic planning problems, such as fleet size and mix problems, analysis of long-term contracts and contract terms. The methodology is tested on a real case for a major Norwegian shipping company. The methodology provided valuable decision support on important strategic planning problems for the shipping company.

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    Bibliographic Info

    Article provided by Elsevier in its journal Omega.

    Volume (Year): 38 (2010)
    Issue (Month): 6 (December)
    Pages: 465-474

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    Handle: RePEc:eee:jomega:v:38:y:2010:i:6:p:465-474

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    Related research

    Keywords: Routing Decision support systems Heuristics Simulation Case study;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Ronen, David, 1983. "Cargo ships routing and scheduling: Survey of models and problems," European Journal of Operational Research, Elsevier, vol. 12(2), pages 119-126, February.
    2. Gerald G. Brown & Glenn W. Graves & David Ronen, 1987. "Scheduling Ocean Transportation of Crude Oil," Management Science, INFORMS, vol. 33(3), pages 335-346, March.
    3. Dan O. Bausch & Gerald G. Brown & David Ronen, 1998. "Scheduling short-term marine transport of bulk products," Maritime Policy & Management, Taylor & Francis Journals, vol. 25(4), pages 335-348, December.
    4. Sounderpandian, Jayavel & Prasad, Sameer & Madan, Manu, 2008. "Supplies from developing countries: Optimal order quantities under loss risks," Omega, Elsevier, vol. 36(1), pages 122-130, February.
    5. Ronen, David, 1993. "Ship scheduling: The last decade," European Journal of Operational Research, Elsevier, vol. 71(3), pages 325-333, December.
    6. Fagerholt, Kjetil & Lindstad, Håkon, 2000. "Optimal policies for maintaining a supply service in the Norwegian Sea," Omega, Elsevier, vol. 28(3), pages 269-275, June.
    7. Taylor, AJ, 1982. "Chartering strategies for shipping companies," Omega, Elsevier, vol. 10(1), pages 25-33.
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    Citations

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    Cited by:
    1. Sterna, Malgorzata, 2011. "A survey of scheduling problems with late work criteria," Omega, Elsevier, vol. 39(2), pages 120-129, April.
    2. Christiansen, Marielle & Fagerholt, Kjetil & Nygreen, Bjørn & Ronen, David, 2013. "Ship routing and scheduling in the new millennium," European Journal of Operational Research, Elsevier, vol. 228(3), pages 467-483.
    3. Pantuso, Giovanni & Fagerholt, Kjetil & Hvattum, Lars Magnus, 2014. "A survey on maritime fleet size and mix problems," European Journal of Operational Research, Elsevier, vol. 235(2), pages 341-349.
    4. Lev, Benjamin & Kowalski, Krzysztof, 2011. "Modeling fixed-charge problems with polynomials," Omega, Elsevier, vol. 39(6), pages 725-728, December.
    5. Goodwin, Paul & Fildes, Robert & Lawrence, Michael & Stephens, Greg, 2011. "Restrictiveness and guidance in support systems," Omega, Elsevier, vol. 39(3), pages 242-253, June.

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