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Operation planning of multiparcel tankers under fuel price uncertainty / H. C. Oh in Industrial & engineering chemistry research, Vol. 49 N° 13 (Juillet 2010) 

Public ISBD [article]  in Industrial & engineering chemistry research > Vol. 49 N° 13 (Juillet 2010) . - pp. 6104–6114 Titre : Operation planning of multiparcel tankers under fuel price uncertainty Type de document : texte imprimé Auteurs : H. C. Oh, Auteur ; A. Karimi, Auteur Année de publication : 2010 Article en page(s) : pp. 6104–6114 Note générale : Industrial chemistry Langues : Anglais (eng) Mots-clés : Maritime  logistics;  multiparcel  tanker;  mixed-integer  linear  programming  model Résumé : Maritime logistics is the workhorse of the growing global chemical trade. Fuel expenses claim up to 90% of the daily operating cost of a multiparcel tanker, and a tanker’s fuel consumption varies with the cube of its speed. This combined with high fuel prices makes it crucial that the tanker owners manage tanker speed and fuel purchases in a prudent manner. The volatility in fuel prices and their significant variations across refueling ports make this a difficult task, and systematic optimization can aid the decision-making process. Surprisingly, no literature model addresses this issue for multiparcel tankers. We propose a novel mixed-integer linear programming model that optimizes the operation of a multiparcel tanker in the presence of uncertain fuel prices. Given the route and cargo details of a tanker, it determines the optimal voyage speeds and a refueling plan that minimizes the expected total operating cost. We use a case study derived from industrial data to illustrate the application of our new model. En ligne : http://pubs.acs.org/doi/abs/10.1021/ie901551j [article] Operation planning of multiparcel tankers under fuel price uncertainty [texte imprimé] / H. C. Oh, Auteur ; A. Karimi, Auteur . - 2010 . - pp. 6104–6114. Industrial chemistry Langues : Anglais (eng) in Industrial & engineering chemistry research > Vol. 49 N° 13 (Juillet 2010) . - pp. 6104–6114 Mots-clés : Maritime  logistics;  multiparcel  tanker;  mixed-integer  linear  programming  model Résumé : Maritime logistics is the workhorse of the growing global chemical trade. Fuel expenses claim up to 90% of the daily operating cost of a multiparcel tanker, and a tanker’s fuel consumption varies with the cube of its speed. This combined with high fuel prices makes it crucial that the tanker owners manage tanker speed and fuel purchases in a prudent manner. The volatility in fuel prices and their significant variations across refueling ports make this a difficult task, and systematic optimization can aid the decision-making process. Surprisingly, no literature model addresses this issue for multiparcel tankers. We propose a novel mixed-integer linear programming model that optimizes the operation of a multiparcel tanker in the presence of uncertain fuel prices. Given the route and cargo details of a tanker, it determines the optimal voyage speeds and a refueling plan that minimizes the expected total operating cost. We use a case study derived from industrial data to illustrate the application of our new model. En ligne : http://pubs.acs.org/doi/abs/10.1021/ie901551j