Article ID Journal Published Year Pages File Type
1023186 Transportation Research Part E: Logistics and Transportation Review 2015 15 Pages PDF
Abstract

With a dominant volume of global transportation being conducted by sea, ocean container transport greatly impacts the global economy. Since sea vessels are drastically more fuel efficient when traveling at lower speeds, slow steaming has become a widely adopted practice to reduce bunker costs. However, this leads to a longer transportation time, which together with the unpredictability of the delay has been a big challenge. We propose a model to quantify the relationship among shipping time, bunker cost and delivery reliability. Our findings lead to a simple and implementable policy with a controlled cost and guaranteed delivery reliability.

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Social Sciences and Humanities Business, Management and Accounting Business and International Management
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