Estimation of the perceived value of transit time for shipping lines

Journal article

Wang, Shuaian, Qu, Xiaobo and Yang, Ying. (2015). Estimation of the perceived value of transit time for shipping lines. Transportation Research Part A: Policy and Practice. 78, pp. 298 - 308. https://doi.org/10.1016/j.tra.2015.04.014
AuthorsWang, Shuaian, Qu, Xiaobo and Yang, Ying
Abstract

This paper proposes a novel method for estimating the perceived value of transit time of containers by shipping lines. The key idea is that a shipping line’s published schedule is the optimal decision that minimizes the sum of fuel cost and time-associated costs of the containers adopted by the shipping line. Using the proposed method, we find that the adopted values of transit time for nine trans-Pacific services operated by Orient Overseas Container Line and five trans-Pacific services operated by Maersk Line are between US$5/TEU/day and US$30/TEU/day. We further demonstrate how the adopted value can be used for designing the optimal transit times between ports, analyzing the viability of slow-steaming, checking whether ships should speed up to catch up to connecting ships on other services, and helping to predict the market share of less polluting fuels in view of rules on air emission

Keywordsmaritime container transportation; value of transit time; bunker fuel; liner shipping companies
Year2015
JournalTransportation Research Part A: Policy and Practice
Journal citation78, pp. 298 - 308
PublisherPergamon Press
ISSN0191-2607
Digital Object Identifier (DOI)https://doi.org/10.1016/j.tra.2015.04.014
Scopus EID2-s2.0-84931271699
Page range298 - 308
Publisher's version
File Access Level
Controlled
Place of publicationUnited Kingdom
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