Joint optimization of bunker fuel and vessel speed considering delay and carbon emission

Abstract

Vessel speed optimization and optimal bunkering ports are two critical facets of the maritime industry. These two factors are the major contributors to determining the total vessel operational cost. A multi-objective formulation is proposed in this paper to study the effect of a delay on a pre-planned schedule of a vessel. Here, the delay is defined as the service levels of the vessel at the different ports of calls. The formulation also includes emission costs to consider the increasing damages done by the maritime industry to the environment. Furthermore, the Non-dominated sorting Algorithm II is employed to perform the multi-objective optimization.