Managing fuel price variability for ship operations through contracts using fuzzy TOPSIS
Managing fuel price variability for ship operations through contracts using fuzzy TOPSIS
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DOI:
10.1016/j.rtbm.2021.100778
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发表时间:
2022-06-07
影响因子:
4.8
通讯作者:
Lagoudis, Ioannis N.
中科院分区:
文献类型:
--
作者:
Chrysafis, Konstantinos A.;Theotokas, Ioannis N.;Lagoudis, Ioannis N.
Bunkering cost is a significant contributor to the total operating cost of ships. The number of shipping companies seeking to actively manage this cost either by adapting market offered tools or by developing their own tools keeps increasing. Existing literature has so far approached bunkering cost optimization through various techniques among the many being consumption optimization, contract selection and port selection. The present work focuses on the problem of managing fuel operating cost for ships aiming at developing tools and techniques for the selection of optimal bunkering contracts. Fuzzy methods are proposed to tackle the variability stemming from the bunkering market. Particularly, Fuzzy TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) method is employed as appropriate for the supplier selection process. This method leads to optimal bunkering contracts for the shipping company. In fuzzy TOPSIS method, the criteria method are aligned with the company's policy, taking into consideration financial and managerial constraints resulting from the company's internal and external environment. This research assists shipping companies to manage financial risk in supplier selection via optimizing the ship's operating costs. Fuzzy methods offer a reliable approach in cost optimization by analyzing the criteria used both qualitatively and quantitatively. The aggregated profiles of bunkering experts in bulk shipping and a set of ten major criteria for the selection of the optimum bunker contract are used here and implemented via a case study.