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|Title:||A study on bunker fuel management for the shipping liner services||Authors:||Yao, Z.
|Keywords:||Bunker fuel management
Bunker fuel price
|Issue Date:||May-2012||Citation:||Yao, Z., Ng, S.H., Lee, L.H. (2012-05). A study on bunker fuel management for the shipping liner services. Computers and Operations Research 39 (5) : 1160-1172. ScholarBank@NUS Repository. https://doi.org/10.1016/j.cor.2011.07.012||Abstract:||In this paper, we consider a bunker fuel management strategy study for a single shipping liner service. The bunker fuel management strategy includes three components: bunkering ports selection (where to bunker), bunkering amounts determination (how much to bunker) and ship speeds adjustment (how to adjust the ship speeds along the service route). As these three components are interrelated, it is necessary to optimize them jointly in order to obtain an optimal bunker fuel management strategy for a single shipping liner service. As an appropriate model representing the relationship between bunker fuel consumption rate and ship speed is important in the bunker fuel management strategy, we first study in detail this empirical relationship. We find that the relationship can be different for different sizes of containerships and provide an empirical model to express this relationship for different sizes of containerships based on real data obtained from a shipping company. We further highlight the importance of using the appropriate consumption rate model in the bunker fuel management strategy as using a wrong or aggregated model can result in inferior or suboptimal strategies. We then develop a planning level model to determine the optimal bunker fuel management strategy, i.e. optimal bunkering ports, bunkering amounts and ship speeds, so as to minimize total bunker fuel related cost for a single shipping liner service. Based on the optimization model, we study the effects of port arrival time windows, bunker fuel prices, ship bunker fuel capacity and skipping port options on the bunker fuel management strategy of a single shipping liner service. We finally provide some insights obtained from two case studies. © 2011 Elsevier Ltd. All rights reserved.||Source Title:||Computers and Operations Research||URI:||http://scholarbank.nus.edu.sg/handle/10635/62970||ISSN:||03050548||DOI:||10.1016/j.cor.2011.07.012|
|Appears in Collections:||Staff Publications|
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