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A survey on maritime fleet size and mix problems

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  • Pantuso, Giovanni
  • Fagerholt, Kjetil
  • Hvattum, Lars Magnus

Abstract

This paper presents a literature survey on the fleet size and mix problem in maritime transportation. Fluctuations in the shipping market and frequent mismatches between fleet capacities and demands highlight the relevance of the problem and call for more accurate decision support. After analyzing the available scientific literature on the problem and its variants and extensions, we summarize the state of the art and highlight the main contributions of past research. Furthermore, by identifying important real life aspects of the problem which past research has failed to capture, we uncover the main areas where more research will be needed.

Suggested Citation

  • 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.
  • Handle: RePEc:eee:ejores:v:235:y:2014:i:2:p:341-349
    DOI: 10.1016/j.ejor.2013.04.058
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    References listed on IDEAS

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    Cited by:

    1. Thomas Borthen & Henrik Loennechen & Xin Wang & Kjetil Fagerholt & Thibaut Vidal, 2018. "A genetic search-based heuristic for a fleet size and periodic routing problem with application to offshore supply planning," EURO Journal on Transportation and Logistics, Springer;EURO - The Association of European Operational Research Societies, vol. 7(2), pages 121-150, June.
    2. Bierwirth, Christian & Meisel, Frank, 2015. "A follow-up survey of berth allocation and quay crane scheduling problems in container terminals," European Journal of Operational Research, Elsevier, vol. 244(3), pages 675-689.
    3. Ng, ManWo, 2017. "Revisiting a class of liner fleet deployment models," European Journal of Operational Research, Elsevier, vol. 257(3), pages 773-776.
    4. Oliveira, Beatriz Brito & Carravilla, Maria Antónia & Oliveira, José Fernando, 2017. "Fleet and revenue management in car rental companies: A literature review and an integrated conceptual framework," Omega, Elsevier, vol. 71(C), pages 11-26.
    5. Giovanni Pantuso & Kjetil Fagerholt & Stein W. Wallace, 2016. "Uncertainty in Fleet Renewal: A Case from Maritime Transportation," Transportation Science, INFORMS, vol. 50(2), pages 390-407, May.
    6. Wu, Lingxiao & Pan, Kai & Wang, Shuaian & Yang, Dong, 2018. "Bulk ship scheduling in industrial shipping with stochastic backhaul canvassing demand," Transportation Research Part B: Methodological, Elsevier, vol. 117(PA), pages 117-136.
    7. Stålhane, Magnus & Halvorsen-Weare, Elin E. & Nonås, Lars Magne & Pantuso, Giovanni, 2019. "Optimizing vessel fleet size and mix to support maintenance operations at offshore wind farms," European Journal of Operational Research, Elsevier, vol. 276(2), pages 495-509.
    8. Bittante, A. & Pettersson, F. & Saxén, H., 2018. "Optimization of a small-scale LNG supply chain," Energy, Elsevier, vol. 148(C), pages 79-89.
    9. Skålnes, Jørgen & Fagerholt, Kjetil & Pantuso, Giovanni & Wang, Xin, 2020. "Risk control in maritime shipping investments," Omega, Elsevier, vol. 96(C).
    10. Ursavas, Evrim, 2017. "A benders decomposition approach for solving the offshore wind farm installation planning at the North Sea," European Journal of Operational Research, Elsevier, vol. 258(2), pages 703-714.
    11. Ng, ManWo & Lin, Dung-Ying, 2018. "Fleet deployment in liner shipping with incomplete demand information," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 116(C), pages 184-189.
    12. Koza, David Franz & Ropke, Stefan & Boleda Molas, Anna, 2017. "The liquefied natural gas infrastructure and tanker fleet sizing problem," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 99(C), pages 96-114.
    13. Mulder, J. & Dekker, R., 2016. "Optimization in container liner shipping," Econometric Institute Research Papers EI2016-05, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    14. Wang, Xin & Fagerholt, Kjetil & Wallace, Stein W., 2018. "Planning for charters: A stochastic maritime fleet composition and deployment problem," Omega, Elsevier, vol. 79(C), pages 54-66.
    15. Vidal, Thibaut & Laporte, Gilbert & Matl, Piotr, 2020. "A concise guide to existing and emerging vehicle routing problem variants," European Journal of Operational Research, Elsevier, vol. 286(2), pages 401-416.
    16. Arslan, Ayşe N. & Papageorgiou, Dimitri J., 2017. "Bulk ship fleet renewal and deployment under uncertainty: A multi-stage stochastic programming approach," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 97(C), pages 69-96.
    17. Gu, Yewen & Wallace, Stein W. & Wang, Xin, 2018. "Can an Emission Trading Scheme really reduce CO2 emissions in the short term? Evidence from a maritime fleet composition and deployment model," Discussion Papers 2018/10, Norwegian School of Economics, Department of Business and Management Science.
    18. Hamidreza Eskandari & Ehsan Mahmoodi, 2016. "A simulation-based multi-objective optimization study of the fleet sizing problem in the offshore industry," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 18(4), pages 436-457, December.
    19. Mørch, Ove & Fagerholt, Kjetil & Pantuso, Giovanni & Rakke, Jørgen, 2017. "Maximizing the rate of return on the capital employed in shipping capacity renewal," Omega, Elsevier, vol. 67(C), pages 42-53.
    20. Vanga, Ratnaji & Venkateswaran, Jayendran, 2020. "Fleet sizing of reusable articles under uncertain demand and turnaround times," European Journal of Operational Research, Elsevier, vol. 285(2), pages 566-582.
    21. Ng, ManWo, 2014. "Distribution-free vessel deployment for liner shipping," European Journal of Operational Research, Elsevier, vol. 238(3), pages 858-862.
    22. Bakkehaug, Rikard & Eidem, Eirik Stamsø & Fagerholt, Kjetil & Hvattum, Lars Magnus, 2014. "A stochastic programming formulation for strategic fleet renewal in shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 72(C), pages 60-76.

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