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Estimation of the perceived value of transit time for shipping lines
Wang, Shuaian Qu, Xiaobo Yang, Ying
Wang, Shuaian
Qu, Xiaobo
Yang, Ying
Author
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
Keywords
maritime container transportation, value of transit time, bunker fuel, liner shipping companies
Date
2015
Type
Journal article
Journal
Transportation Research Part A: Policy and Practice
Book
Volume
78
Issue
Page Range
298-308
Article Number
ACU Department
School of Behavioural and Health Sciences
Faculty of Health Sciences
Faculty of Health Sciences
Relation URI
Source URL
Event URL
Open Access Status
License
File Access
Controlled