Example performance management dissertation topic 3:

Stochastic modelling in fleet management in the container shipping industry

The capital outlay for vessels as well as shipping containers requires that both maximise usage to optimise profit. This dissertation examines how fleet managers can undertake stochastic modelling programmes in order to understand better how to direct fleet resources, including minimising time in port incurring fees. Using logistics simulations, the study evaluates differing levels of uncertainty, the value of maintaining environmental concerns within such modelling, and whether route sharing is indeed viable in a highly competitive market. Finally, the paper offers a variety of strategies which fleet managers can adopt, and makes recommendations pertinent to different global sectors.

Suggested initial topic reading:

• Claessens, E. (1987), ‘Optimization procedures in maritime fleet management’ Maritime Policy & Management: The Flagship Journal of International Shipping and Port Research, Vol. 14, (1), pp. 27-48.
• Shen, W. and Khoong, C. (1995) ‘A DSS for empty container distribution planning’, Decision Support Systems Vol. 15, (1), pp.75-82.
• Song, D. and Dong, J. (2008) ‘Empty container management in cyclic shipping routes’, Maritime Economics & Logistics Vol. 10, (12), pp. 335-361.