Fleet management of iron-ore marine transportation by a multi-agent simulation

Abstract

To cope with the highly volatile market of freight rate in recent years, both shipping and shipbuilding companies require a tool for designing the structure of fleet that satisfy the economic demand. The authors use a numerical simulation of bulk carriers to evaluate the optimal portfolio of ships by their size and routes. In this study, we simulate the transportation network of iron ore carriers using multi agent approach. It shows the operation cost, shortage risk of iron ore stocks in steel manufacturing companies. We also discusses the economical benefit of combination trade and remedy operation for the congestion of ships in a port caused by accidental breakdown of its loading functions.