We study a tanker chartering decision problem faced by refinery companies. The decision process is formulated as an optimal stopping problem with geometric Brownian motion for the spot freight rate dynamics and a Poisson type arrival process for the tankers. We show the problem can be solved...

Mathematical and computational techniques are developed for the analysis of annual roadworthiness (MOT) test data that the UK Department for Transport has placed in the public domain. This paper develops a new theory to estimate fine-scale temporal (e.g., monthly) variations in vehicle mileage...

This paper analyses the efficiency of 33 Italian airports for the period 2005–2008. In addition to conventional outputs, differently from previous contributions, two environmental externalities are considered: noise and local air pollution. We perform a two-stage analysis. First, we implement...

This study presents a transformed first-price sealed-bid auction with independent private values to determine the equilibrium royalties and subsidies in Public–Private Partnerships. The proposed model implies that royalties and subsidies are influenced by the true values bidders assign to a...

This paper addresses two innovative design alternatives of marine container terminals for efficient ship handling service in the mega-containership era. They serve a mega-ship from two sides at dedicated berths. One of the key issues for higher utilization is how the dedicated berths serve other...

This paper reproduces the performance of an international market capitalization shipping stock index and two physical shipping indexes by investing only in US stock portfolios. The index-tracking problem is addressed using the differential evolution algorithm and the genetic algorithm....

This paper analyses the productivity of 20 Italian airports management companies during the period 2006–2008 using a DEA Malmquist index that includes a quality component. The proposed methodology is applied for the first time to the airport industry. In doing so, we directly assess the impact...

This paper addresses a new routing problem, where container loads must be shipped from a port to importers and from exporters to the port by trucks carrying one or two containers, without separating trucks and containers during customer service. We describe the problem, formulate an optimization...

The study empirically analyses the time-varying properties of the spread between voyage and time-charter rates and presents evidence that these properties are directly related to the business cycle (market demand) of the maritime industry, to the expectations for the future market demand and to...

In response to the growing Climate Change problem, governments around the world are seeking to reduce the greenhouse gas (GHG) emissions of trucking. The Trucking Sector Optimization (TSO) model is introduced as a tool for studying the decisions that shippers and carriers make throughout time...