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Distributionally Robust Joint Chance Constrained Vessel Fleet Deployment Problem

Author

Listed:
  • Feifeng Zheng

    (Glorious Sun School of Business & Management, Donghua University, Shanghai 200051, P. R. China)

  • Zhaojie Wang

    (Glorious Sun School of Business & Management, Donghua University, Shanghai 200051, P. R. China)

  • E. Zhang

    (School of Information Management & Engineering, Shanghai University of Finance and Economics, Shanghai 200433, P. R. China)

  • Ming Liu

    (School of Economics & Management, Tongji University, Shanghai 200092, P. R. China)

Abstract

This work investigates the problem of vessel fleet deployment for liner shipping. The objective is to minimize the total cost, i.e., the sum of vessel chartering cost and vessel-route operating cost. In the considered problem, the shipment demand for each route is uncertain and its distribution is unknown. Due to lacking historical data, we use the moment-based ambiguity set to characterize the unknown distributions of demands. We then introduce a distributionally robust model and propose a new approximation approach to solve this problem. Finally, numerical experiments are conducted to demonstrate the performance of our approximation approach.

Suggested Citation

  • Feifeng Zheng & Zhaojie Wang & E. Zhang & Ming Liu, 2022. "Distributionally Robust Joint Chance Constrained Vessel Fleet Deployment Problem," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 39(06), pages 1-19, December.
    • Handle: RePEc:wsi:apjorx:v:39:y:2022:i:06:n:s021759592250004x
    DOI: 10.1142/S021759592250004X
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    Citations

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    Cited by:

    1. Hsieh, Chung-Han, 2024. "On solving robust log-optimal portfolio: A supporting hyperplane approximation approach," European Journal of Operational Research, Elsevier, vol. 313(3), pages 1129-1139.
    2. Belleh Fontem, 2023. "Robust Chance-Constrained Geometric Programming with Application to Demand Risk Mitigation," Journal of Optimization Theory and Applications, Springer, vol. 197(2), pages 765-797, May.
    3. Jiang, Jie & Peng, Shen, 2024. "Mathematical programs with distributionally robust chance constraints: Statistical robustness, discretization and reformulation," European Journal of Operational Research, Elsevier, vol. 313(2), pages 616-627.

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