IDEAS home Printed from https://ideas.repec.org/a/spr/snopef/v4y2023i3d10.1007_s43069-023-00239-y.html
   My bibliography  Save this article

A Stochastic Modelling and Optimization for the Design of an LNG Refuelling System in the Piraeus Port Region

Author

Listed:
  • Charis Ntakolia

    (National Technical University of Athens
    Hellenic Air Force Academy)

  • Michalis Douloumpekis

    (National Technical University of Athens)

  • Christos Papaleonidas

    (National Technical University of Athens)

  • Violetta Tsiampa

    (National Technical University of Athens)

  • Dimitrios V. Lyridis

    (National Technical University of Athens)

Abstract

Port activity is assumed to be an integral part of maritime activity. Ships are supplied with water, food, fuel, electricity, spare parts and consumables when they are berthed in ports. Therefore, the purpose of the service system is to reduce the waiting cost, from the time the ship’s arrival until its service. Delays in the system, and particularly in the queuing system, could occur due to irregularities in the ships’ arrival time causing uncertainty in time of service. On the contrary, a complex waiting system would require an increased commitment of capital for the construction and maintenance of appropriate infrastructure. As such an optimum size and operation of the port service system must be identified. To address this problem, this study presents a method for maximizing port administrator’s profit, by modelling and optimizing the waiting system based on Monte Carlo simulation techniques. Port of Piraeus is used to test the method. The case study assumes increased bunkering port calls due to the addition of a liquified natural gas (LNG) refuelling station. The results showed that a range of 3 to 5 stations generate high profit while using too many service stations could lead to deteriorations of the profit.

Suggested Citation

  • Charis Ntakolia & Michalis Douloumpekis & Christos Papaleonidas & Violetta Tsiampa & Dimitrios V. Lyridis, 2023. "A Stochastic Modelling and Optimization for the Design of an LNG Refuelling System in the Piraeus Port Region," SN Operations Research Forum, Springer, vol. 4(3), pages 1-32, September.
    • Handle: RePEc:spr:snopef:v:4:y:2023:i:3:d:10.1007_s43069-023-00239-y
    DOI: 10.1007/s43069-023-00239-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s43069-023-00239-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s43069-023-00239-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Raimonds Aronietis & Christa Sys & Edwin van Hassel & Thierry Vanelslander, 2016. "Forecasting port-level demand for LNG as a ship fuel: the case of the port of Antwerp," Journal of Shipping and Trade, Springer, vol. 1(1), pages 1-22, December.
    2. Eleni Strantzali & Konstantinos Aravossis & Georgios A. Livanos & Nikos Chrysanthopoulos, 2018. "A Novel Multicriteria Evaluation of Small-Scale LNG Supply Alternatives: The Case of Greece," Energies, MDPI, vol. 11(4), pages 1-20, April.
    3. Salman Saif Ghouri, 2006. "Forecasting natural gas prices using cointegration technique," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 30(4), pages 249-269, December.
    4. Trotter, Ian M. & Gomes, Marília Fernandes Maciel & Braga, Marcelo José & Brochmann, Bjørn & Lie, Ole Nikolai, 2016. "Optimal LNG (liquefied natural gas) regasification scheduling for import terminals with storage," Energy, Elsevier, vol. 105(C), pages 80-88.
    5. Elmaghraby, Salah E., 2005. "On the fallacy of averages in project risk management," European Journal of Operational Research, Elsevier, vol. 165(2), pages 307-313, September.
    6. Guoming Lai & Mulan X. Wang & Sunder Kekre & Alan Scheller-Wolf & Nicola Secomandi, 2011. "Valuation of Storage at a Liquefied Natural Gas Terminal," Operations Research, INFORMS, vol. 59(3), pages 602-616, June.
    7. Branislav Dragović & Nam Kyu Park & Zoran Radmilović, 2006. "Ship-berth link performance evaluation: simulation and analytical approaches," Maritime Policy & Management, Taylor & Francis Journals, vol. 33(3), pages 281-299, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wendi Tian & Erik Demeulemeester, 2014. "Railway scheduling reduces the expected project makespan over roadrunner scheduling in a multi-mode project scheduling environment," Annals of Operations Research, Springer, vol. 213(1), pages 271-291, February.
    2. Arvesen, Ø. & Medbø, V. & Fleten, S.-E. & Tomasgard, A. & Westgaard, S., 2013. "Linepack storage valuation under price uncertainty," Energy, Elsevier, vol. 52(C), pages 155-164.
    3. Meloni, Carlo & Pranzo, Marco & Samà, Marcella, 2022. "Evaluation of VaR and CVaR for the makespan in interval valued blocking job shops," International Journal of Production Economics, Elsevier, vol. 247(C).
    4. Akoh Fabien Yao & Maxime Sèbe & Laura Recuero Virto & Abdelhak Nassiri & Hervé Dumez, 2024. "The effect of LNG bunkering on port competitiveness using multilevel data analysis [L'effet du soutage par GNL sur la compétitivité des ports à l'aide de l'analyse de données à plusieurs niveaux]," Post-Print hal-04611804, HAL.
    5. John R. Birge, 2015. "OM Forum—Operations and Finance Interactions," Manufacturing & Service Operations Management, INFORMS, vol. 17(1), pages 4-15, February.
    6. Nicola Secomandi & Sunder Kekre, 2014. "Optimal Energy Procurement in Spot and Forward Markets," Manufacturing & Service Operations Management, INFORMS, vol. 16(2), pages 270-282, May.
    7. Azaron, Amir & Fatemi Ghomi, S.M.T., 2008. "Lower bound for the mean project completion time in dynamic PERT networks," European Journal of Operational Research, Elsevier, vol. 186(1), pages 120-127, April.
    8. Nadarajah, Selvaprabu & Secomandi, Nicola, 2023. "A review of the operations literature on real options in energy," European Journal of Operational Research, Elsevier, vol. 309(2), pages 469-487.
    9. Bordley, Robert F. & Keisler, Jeffrey M. & Logan, Tom M., 2019. "Managing projects with uncertain deadlines," European Journal of Operational Research, Elsevier, vol. 274(1), pages 291-302.
    10. Yangfang (Helen) Zhou & Alan Scheller‐Wolf & Nicola Secomandi & Stephen Smith, 2019. "Managing Wind‐Based Electricity Generation in the Presence of Storage and Transmission Capacity," Production and Operations Management, Production and Operations Management Society, vol. 28(4), pages 970-989, April.
    11. Frank Meisel & Christian Bierwirth, 2013. "A Framework for Integrated Berth Allocation and Crane Operations Planning in Seaport Container Terminals," Transportation Science, INFORMS, vol. 47(2), pages 131-147, May.
    12. Adrian Werner, Kristin Tolstad Uggen, Marte Fodstad, Arnt-Gunnar Lium, and Ruud Egging, 2014. "Stochastic Mixed-Integer Programming for Integrated Portfolio Planning in the LNG Supply Chain," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
    13. Debjit Roy & René De Koster & René Bekker, 2020. "Modeling and Design of Container Terminal Operations," Operations Research, INFORMS, vol. 68(3), pages 686-715, May.
    14. Meloni, Carlo & Pranzo, Marco & Samà, Marcella, 2021. "Risk of delay evaluation in real-time train scheduling with uncertain dwell times," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 152(C).
    15. Hazır, Öncü & Ulusoy, Gündüz, 2020. "A classification and review of approaches and methods for modeling uncertainty in projects," International Journal of Production Economics, Elsevier, vol. 223(C).
    16. Sobel, Matthew J. & Szmerekovsky, Joseph G. & Tilson, Vera, 2009. "Scheduling projects with stochastic activity duration to maximize expected net present value," European Journal of Operational Research, Elsevier, vol. 198(3), pages 697-705, November.
    17. Zou, Gao Lu, 2012. "The long-term relationships among China's energy consumption sources and adjustments to its renewable energy policy," Energy Policy, Elsevier, vol. 47(C), pages 456-467.
    18. Branislav Dragović & Ernestos Tzannatos & Nam Kuy Park, 2017. "Simulation modelling in ports and container terminals: literature overview and analysis by research field, application area and tool," Flexible Services and Manufacturing Journal, Springer, vol. 29(1), pages 4-34, March.
    19. Jia, Shuai & Li, Chung-Lun & Xu, Zhou, 2020. "A simulation optimization method for deep-sea vessel berth planning and feeder arrival scheduling at a container port," Transportation Research Part B: Methodological, Elsevier, vol. 142(C), pages 174-196.
    20. Godinho, Pedro & Branco, Fernando G., 2012. "Adaptive policies for multi-mode project scheduling under uncertainty," European Journal of Operational Research, Elsevier, vol. 216(3), pages 553-562.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:snopef:v:4:y:2023:i:3:d:10.1007_s43069-023-00239-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.