An utility-based decision support sustainability model in slow steaming maritime operations

Eugene Y.C. Wong, Allen H. Tai, Henry Y.K. Lau, Mardjuki Raman

Research output: Journal article publicationJournal articleAcademic researchpeer-review

21 Citations (Scopus)

Abstract

This paper analyses slow steaming sustainability initiatives and generalizes the traditional discrete cost-based decision support model into novel continuous utility-based models. Two models based on logarithmic and linear utility functions are developed for risk-averse and risk-neutral decision makers respectively. The models, considering fuel consumption, carbon emission, and on time delivery, are applied to a Trans-pacific trade service route. A sensitivity analysis is conducted on parameters of sailing distance, expected transit time, quantity, and emission policies. The model contributes to ship liners on the optimal speed decisions in continuous utility-based slow steaming operations.

Original languageEnglish
Pages (from-to)57-69
Number of pages13
JournalTransportation Research Part E: Logistics and Transportation Review
Volume78
DOIs
Publication statusPublished - May 2015

Keywords

  • Carbon emission
  • Fuel consumption
  • Maritime transport
  • Sustainability
  • Utility

ASJC Scopus subject areas

  • Business and International Management
  • Civil and Structural Engineering
  • Transportation

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