Abstract
The principles of "production economic" theory are applied to containership economics. The paper indicates how the complex nonlinear problem of selecting the ship container capacity and speed satisfying a given level of demand for container transportation can be solved, utilizing graphical procedures based on production theory. The theory presented in the paper deviates from past procedures of ship optimization in that the optimization problem is examined in the light of transport elasticities, sailing intervals and imperfect competition among containership firms. A containership fleet optimization example utilizing production theory has been included.
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