Analysis of containership speed optimization algorithms



Publication Details

Wang, S., Meng, Q. & Liu, Z. (2012). Analysis of containership speed optimization algorithms. Transportation & Logistics Management: Proceedings of the 17th International Conference of Hong Kong Society for Transportation Studies (HKSTS 2012) (pp. 49-55).


Containership speed optimization is important for liner shipping companies because bunker cost constitutes a large proportional of their total operating cost and bunker consumption is sensitive to the ship sailing speed. Speed optimization problems can be formulated as mixed-integer nonlinear programming (MINLP) models. However, the MINLP models developed for the large-scale problems are not solvable by using existing optimization solvers. This paper first analyzes the exiting solution algorithms for solving the MINLP model and then proposes a few novel algorithms which are capable of solving large-scale problems.

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