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Transactions on Maritime Science, Vol.03 No.02 October 2014.

Preliminary communication
https://doi.org/10.7225/toms.v03.n02.003

Liquefied Natural Gas Ship Route Planning Model Considering Market Trend Change

Jaeyoung Cho ; Department of Industrial Engineering, University of Houston, Houston, TX
Gino J. Lim ; Department of Industrial Engineering, University of Houston, Houston, TX
Taofeek Biobaku ; Department of Industrial Engineering, University of Houston, Houston, TX
Selim Bora ; Texas A&M University at Qatar, Doha, Qatar
Hamid Parsaei ; Texas A&M University at Qatar, Doha, Qatar

Fulltext: english, pdf (484 KB) pages 119-130 downloads: 854* cite
APA 6th Edition
Cho, J., J. Lim, G., Biobaku, T., Bora, S. & Parsaei, H. (2014). Liquefied Natural Gas Ship Route Planning Model Considering Market Trend Change. Transactions on Maritime Science, 03 (02), 119-130. https://doi.org/10.7225/toms.v03.n02.003
MLA 8th Edition
Cho, Jaeyoung, et al. "Liquefied Natural Gas Ship Route Planning Model Considering Market Trend Change." Transactions on Maritime Science, vol. 03, no. 02, 2014, pp. 119-130. https://doi.org/10.7225/toms.v03.n02.003. Accessed 10 Dec. 2018.
Chicago 17th Edition
Cho, Jaeyoung, Gino J. Lim, Taofeek Biobaku, Selim Bora and Hamid Parsaei. "Liquefied Natural Gas Ship Route Planning Model Considering Market Trend Change." Transactions on Maritime Science 03, no. 02 (2014): 119-130. https://doi.org/10.7225/toms.v03.n02.003
Harvard
Cho, J., et al. (2014). 'Liquefied Natural Gas Ship Route Planning Model Considering Market Trend Change', Transactions on Maritime Science, 03(02), pp. 119-130. doi: https://doi.org/10.7225/toms.v03.n02.003
Vancouver
Cho J, J. Lim G, Biobaku T, Bora S, Parsaei H. Liquefied Natural Gas Ship Route Planning Model Considering Market Trend Change. Transactions on Maritime Science [Internet]. 2014 [cited 2018 December 10];03(02):119-130. doi: https://doi.org/10.7225/toms.v03.n02.003
IEEE
J. Cho, G. J. Lim, T. Biobaku, S. Bora and H. Parsaei, "Liquefied Natural Gas Ship Route Planning Model Considering Market Trend Change", Transactions on Maritime Science, vol.03, no. 02, pp. 119-130, 2014. [Online]. doi: https://doi.org/10.7225/toms.v03.n02.003

Abstracts
We consider a new biannual liquefi ed natural gas (LNG) ship routing and scheduling problem and a stochastic extension under boil-off gas (BOG) uncertainty while serving geographically dispersed multiple customers using a fl eet of heterogeneous vessels. We are motivated not only by contract trend changes to shorter ones but also by technological advances in LNG vessel design. The mutual coincidence of both transitions enables developing a new LNG shipping strategy to keep up with emerging market trend. We fi rst propose a deterministic LNG scheduling model formulated as a multiple vehicle routing problem (VRP). The model is then extended to consider BOG using a two-stage stochastic modeling approach in which BOG is a random variable. Since the VRP is typically a combinatorial optimization problem, its stochastic extension is much harder to solve. In order to overcome this computational burden, a Monte Carlo sampling optimization is used to reduce the number of scenarios in the stochastic model while ensuring good quality of solutions. The solutions are evaluated using expected value of perfect information (EVPI) and value of stochastic solution (VSS). The result shows that our proposed model yields more stable solutions than the deterministic model. The study was made possible by the NPRP award [NPRP 4-1249-2-492] from the Qatar National Research Fund (a member of the Qatar Foundation).

Keywords
Liquefi ed natural gas; Supply chain; Ship routing; Boil-off gas; Stochastic programming

Hrčak ID: 128852

URI
https://hrcak.srce.hr/128852

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