Authors
Charlotte Vilhelmsen, Richard M Lusby, Jesper Larsen
Publication date
2017/10
Journal
Or Spectrum
Volume
39
Issue
4
Pages
913-943
Publisher
Springer Berlin Heidelberg
Description
In this paper we explore tramp ship routing and scheduling. Tramp ships operate much like taxies following the available demand. Tramp operators can determine some of their demand in advance by entering into long-term contracts and then try to maximise profits from optional voyages found in the spot market. Routing and scheduling a tramp fleet to best utilise fleet capacity according to current demand is therefore an ongoing and complicated problem. Here we add further complexity to the routing and scheduling problem by incorporating voyage separation requirements that enforce a minimum time spread between some voyages. The incorporation of these separation requirements helps balance the conflicting objectives of maximising profit for the tramp operator and minimising inventory costs for the charterer, since these costs increase if similar voyages are not performed with some separation in time …
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