A rolling horizon heuristic for the stochastic cargo mix problem

•Uncertain demands and bookings in liner shipping call for stochastic approaches.•Novel multistage stochastic formulation for the Liner shipping cargo-mix problem.•Efficient & effective two-phase matheuristic based on a rolling horizon approach.•Realistic size instances with over 32,000 scenario...

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Bibliographic Details
Published inTransportation research. Part E, Logistics and transportation review Vol. 123; pp. 200 - 220
Main Authors Christensen, Jonas, Erera, Alan, Pacino, Dario
Format Journal Article
LanguageEnglish
Published Elsevier Ltd 01.03.2019
Subjects
Block stowage
Cargo composition
Liner shipping
Maritime logistic
Matheuristic
Rolling horizon
Stochastic optimisation
Stowage planning
Liner shipping
Stowage planning
Maritime logistic
Cargo composition
Matheuristic
Stochastic optimisation
Rolling horizon
Block stowage
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Summary:•Uncertain demands and bookings in liner shipping call for stochastic approaches.•Novel multistage stochastic formulation for the Liner shipping cargo-mix problem.•Efficient & effective two-phase matheuristic based on a rolling horizon approach.•Realistic size instances with over 32,000 scenarios can be solved within minutes. This paper presents the stochastic cargo-mix problem, which aims at analysing the cargo composition needed for a liner vessel to maximise its revenue on a given service. The unreliability with respect to the demand forecast is included by considering the cargo-flows as being stochastic instead of deterministic. We also take into account accepted bookings, draft, stability and capacity constraints. A compact formulation of the problem is shown to be too complex to solve industrially sized instances. Instead, a rolling horizon matheuristic is presented, and the computational results show that it can achieve high-quality results in reasonable time.
ISSN:1366-5545
1878-5794
DOI:10.1016/j.tre.2018.10.010