Shipping Industry is currently facing challenges of under-utilizedship spaceand high waiting time at discharge locations. Demand fluctuations along with dependency on tide timings add further to addressing these challenges.
ORMAE has built customized solution on multi-commodity, multi-port routing optimization problem for set of vessels where the demand of different commodities at different ports are updated in real time.
Demand data was studied at different ports for different commodities. Based on expected commodity demand, weather information, ship route was optimized in real time. Cost reduction of 3-5 % achieved with ability to use the same model for any number of ports, commodities, vessels, and days/weeks/months
Maximizing the quantity of cargo in the vessel including multicommodity cargo
Minimizing waiting times at multiple ports & terminals
Minimizing/preventing the occurrence of stock-out at ports
Constraints/Challenges:
a) Port Level Constraints and Restrictions
b) Vessel Restrictions
c) Demand variation in real time at ports
