This paper introduces a new problem to the OR community that combines traditional tramp shipping with a vendor managed inventory (VMI) service. Such a service may replace the more traditional contract of affreightment (COA) which for decades has been the standard agreement between a tramp...

This paper presents a decision support methodology for strategic planning in tramp and industrial shipping. The proposed methodology combines simulation and optimization, where a Monte Carlo simulation framework is built around an optimization-based decision support system for short-term routing...