Two-stage stochastic integer programming model for multiperiod sea cargo mix problem in container shipping industry

James S K Ang; Chengxuan Cao; Mahmut Parlar; Hengqing Ye

doi:10.1109/TSMCA.2008.2010754

Two-stage stochastic integer programming model for multiperiod sea cargo mix problem in container shipping industry

James S K Ang, Chengxuan Cao, Mahmut Parlar, Hengqing Ye

Research output: Journal article publication › Journal article › Academic research › peer-review

7 Citations (Scopus)

Abstract

In this paper, we consider the cargo mix problem under uncertainty in the container shipping industry. We seek to determine the optimal cargo mix in a multiperiod planning horizon with the objective of maximizing the total expected profit derived from all freight bookings received in the planning horizon. We present a two-stage stochastic integer programming model and propose a heuristic algorithm for multiperiod sea cargo mix problem under uncertainty. Finally, numerical experiments on a wide range of randomly generated problem instances are conducted to demonstrate the efficiency of the algorithm.

Original language	English
Pages (from-to)	460-465
Number of pages	6
Journal	IEEE Transactions on Systems, Man, and Cybernetics Part A:Systems and Humans
Volume	39
Issue number	2
DOIs	https://doi.org/10.1109/TSMCA.2008.2010754
Publication status	Published - 15 Jan 2009

Keywords

Container shipping industry
Heuristic algorithm (HA)
Sea cargo mix
Two-stage stochastic integer program

ASJC Scopus subject areas

Control and Systems Engineering
Electrical and Electronic Engineering
Computer Science Applications
Human-Computer Interaction
Information Systems
Software

More information

10.1109/TSMCA.2008.2010754

Cite this

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Two-stage stochastic integer programming model for multiperiod sea cargo mix problem in container shipping industry. / Ang, James S K; Cao, Chengxuan; Parlar, Mahmut et al.
In: IEEE Transactions on Systems, Man, and Cybernetics Part A:Systems and Humans, Vol. 39, No. 2, 15.01.2009, p. 460-465.

Research output: Journal article publication › Journal article › Academic research › peer-review

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Two-stage stochastic integer programming model for multiperiod sea cargo mix problem in container shipping industry

Abstract

Keywords

ASJC Scopus subject areas

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