Optimizing Voyage Costs in Maritime Supply Chains: A Holistic Approach Towards Logistics Service Improvement and Supply Chain Finance

Abstract

The multi-objective optimization for voyage planning, which aims to balance time, fuel utilization, and all other relevant service costs, is noticeably absent in the scientific literature. The reason behind this gap is closely linked to the involvement of a large number of participants with conflicting interests in the process. This complexity explains why modelling an optimization tool for maritime logistics services appears challenging. Although new technologies such as blockchains and smart contracts have helped reduce the number of participants and address some complexities, they cannot fully resolve the fragmentation observed in maritime transport.

Keywords

• optimization
• supply chain
• finance
• business model
• maritime transport