Journal of the Korean Institute of Navigation (한국항해학회지)
- Volume 2 Issue 1
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- Pages.1-13
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- 1978
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- 1225-0481(pISSN)
A Study on the Decision of High versus Low Paying Cargo for Maximum Revenue in Liner Ship
정기서에 있어서 최대수익을 위한 고.저운임화물의 결정에 관한 연구
Abstract
A liner ship has its own freight rates on cargoes carried in the trade. This study is on the optimum combination of high and low paying cargoes to deduce the maximum freight revenue in various freight rates at the comparison of low paying freight rate with high paying freight rate in a liner trade. The solution is under the assumption that the probabilities of being booked of high paying cargoes are either a uniform distributiion or a normal distribution. A numerical solution is also used for deriving out the maximum freight revenue which will not have general solution, and also a numerical method is applied for the further-practical results of the clearer relations between high and low freight rates. From the result, we can expect a higher revenue by appropriate combination of high and low freight cargoes according to their freight rates comparison.
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