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A rolling horizon heuristic for the stochastic cargo mix problem

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  • Christensen, Jonas
  • Erera, Alan
  • Pacino, Dario

Abstract

This paper presents the stochastic cargo-mix problem, which aims at analysing the cargo composition needed for a liner vessel to maximise its revenue on a given service. The unreliability with respect to the demand forecast is included by considering the cargo-flows as being stochastic instead of deterministic. We also take into account accepted bookings, draft, stability and capacity constraints. A compact formulation of the problem is shown to be too complex to solve industrially sized instances. Instead, a rolling horizon matheuristic is presented, and the computational results show that it can achieve high-quality results in reasonable time.

Suggested Citation

  • Christensen, Jonas & Erera, Alan & Pacino, Dario, 2019. "A rolling horizon heuristic for the stochastic cargo mix problem," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 123(C), pages 200-220.
    • Handle: RePEc:eee:transe:v:123:y:2019:i:c:p:200-220
    DOI: 10.1016/j.tre.2018.10.010
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