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Document Type

Article Restricted

Publication Date

2012

Journal Title

Transportation Research Part D: Transport and Environment

Volume Number

17

Issue Number

2

First Page

97

Last Page

103

Abstract

This paper provides an algorithm to minimize the fixed ordering, purchase, and inventory-carrying costs associated with bunker fuel together with ship time costs; and environmental costs associated with greenhouse gas emissions. It determines the optimum ship speed, bunkering ports, and amounts of bunker fuel for a given ship’s route. To solve the problem, we use an epsilon-optimal algorithm by deriving a property. The algorithm is illustrated by applying it to typical sample data obtained and the effects of bunker prices, carbon taxes, and ship time costs on the ship speed are analyzed. The results indicate that the ship speed and CO2 emissions are highly sensitive to the factors considered.

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