{"id":{"repo_id":"mit","oai_identifier":"oai:dspace.mit.edu:1721.1/103841"},"canonical_url":"https://search.dev.ndltd.org/etd/mit/oai:dspace.mit.edu:1721.1/103841","repository":{"repo_id":"mit","name":"MIT","base_url":"https://dspace.mit.edu/oai/request"},"display":{"title":"Dynamic ship assignment problem with uncertain demands","abstract":"Product tanker shipping companies in the spot market face severe volatility in demand and in price. We explore shipping companies' two problems: evaluating supply and demand of the market and assigning cargoes in order to maximize profitability. By approximating the market as a queueing system, we obtain utilization ratios, which effectively model supply and demand of the market. This approach directly evaluates the impact of ton-mile on utilization ratios, even a small growth of which may result in a significant supply shortage. Queueing approximation also allows formulation of dynamic ship assignment as a semi-Markov average cost problem, attaining stationary policies. When profit margins are low, a stationary policy frequently rejects cargoes. Despite rejections, it yields the highest profit per cargo, compared to other methods. Such optimal controls remain valid even when demand fluctuates.","abstract_html":"Product tanker shipping companies in the spot market face severe volatility in demand and in price. We explore shipping companies' two problems: evaluating supply and demand of the market and assigning cargoes in order to maximize profitability. By approximating the market as a queueing system, we obtain utilization ratios, which effectively model supply and demand of the market. This approach directly evaluates the impact of ton-mile on utilization ratios, even a small growth of which may result in a significant supply shortage. Queueing approximation also allows formulation of dynamic ship assignment as a semi-Markov average cost problem, attaining stationary policies. When profit margins are low, a stationary policy frequently rejects cargoes. Despite rejections, it yields the highest profit per cargo, compared to other methods. Such optimal controls remain valid even when demand fluctuates.","abstract_has_math":false,"creators":["Kim, Yoo Joon"],"institution":"Massachusetts Institute of Technology","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":"Massachusetts Institute of Technology. Department of Civil and Environmental Engineering.","school":null,"contributors":[],"advisors":["Christopher G. Caplice."],"committee_chairs":[],"committee_members":[],"year":2016,"date_issued":"2016","date_published":"2016","updated_at":"2026-07-22T22:22:08Z","subjects":["Civil and Environmental Engineering."],"languages":["eng"],"rights":["M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."],"rights_urls":["http://dspace.mit.edu/handle/1721.1/7582"],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/1721.1/103841","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["Christopher G. Caplice."]},{"key":"dc:contributor.department","label":"Department","values":["Massachusetts Institute of Technology. Department of Civil and Environmental Engineering."]},{"key":"dc:contributor.other","label":"Dc Contributor Other","values":["Massachusetts Institute of Technology. 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They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."]},{"key":"dc:rights.uri","label":"Rights URI","values":["http://dspace.mit.edu/handle/1721.1/7582"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/1721.1/103841"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["Thesis: S.M. in Transportation, Massachusetts Institute of Technology, Department of Civil and Environmental Engineering, 2016.","Cataloged from PDF version of thesis.","Includes bibliographical references (pages 69-70)."]},{"key":"dc:description.abstract","label":"Abstract","values":["Product tanker shipping companies in the spot market face severe volatility in demand and in price. We explore shipping companies' two problems: evaluating supply and demand of the market and assigning cargoes in order to maximize profitability. By approximating the market as a queueing system, we obtain utilization ratios, which effectively model supply and demand of the market. This approach directly evaluates the impact of ton-mile on utilization ratios, even a small growth of which may result in a significant supply shortage. Queueing approximation also allows formulation of dynamic ship assignment as a semi-Markov average cost problem, attaining stationary policies. When profit margins are low, a stationary policy frequently rejects cargoes. Despite rejections, it yields the highest profit per cargo, compared to other methods. Such optimal controls remain valid even when demand fluctuates."]},{"key":"dc:description.degree","label":"Dc Description Degree","values":["S.M. in Transportation"]},{"key":"dc:title","label":"Title","values":["Dynamic ship assignment problem with uncertain demands"]}]}],"canonical_facts":{"dc:contributor.advisor":["Christopher G. Caplice."],"dc:contributor.department":["Massachusetts Institute of Technology. Department of Civil and Environmental Engineering."],"dc:contributor.other":["Massachusetts Institute of Technology. Department of Civil and Environmental Engineering."],"dc:creator":["Kim, Yoo Joon"],"dc:date.accessioned":["2016-08-02T20:07:33Z"],"dc:date.available":["2016-08-02T20:07:33Z"],"dc:date.issued":["2016"],"dc:description":["Thesis: S.M. in Transportation, Massachusetts Institute of Technology, Department of Civil and Environmental Engineering, 2016.","Cataloged from PDF version of thesis.","Includes bibliographical references (pages 69-70)."],"dc:description.abstract":["Product tanker shipping companies in the spot market face severe volatility in demand and in price. We explore shipping companies' two problems: evaluating supply and demand of the market and assigning cargoes in order to maximize profitability. By approximating the market as a queueing system, we obtain utilization ratios, which effectively model supply and demand of the market. This approach directly evaluates the impact of ton-mile on utilization ratios, even a small growth of which may result in a significant supply shortage. Queueing approximation also allows formulation of dynamic ship assignment as a semi-Markov average cost problem, attaining stationary policies. When profit margins are low, a stationary policy frequently rejects cargoes. Despite rejections, it yields the highest profit per cargo, compared to other methods. Such optimal controls remain valid even when demand fluctuates."],"dc:description.degree":["S.M. in Transportation"],"dc:identifier.uri":["http://hdl.handle.net/1721.1/103841"],"dc:language.iso":["eng"],"dc:publisher":["Massachusetts Institute of Technology"],"dc:rights":["M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."],"dc:rights.uri":["http://dspace.mit.edu/handle/1721.1/7582"],"dc:subject":["Civil and Environmental Engineering."],"dc:title":["Dynamic ship assignment problem with uncertain demands"],"dc:type":["Thesis"]},"updated_at":"2026-07-22T22:22:08Z"}