AN OPTIMAL PLAN FOR THE RENEWAL OF THE SHIPS OF A FLEET

The purpose of this paper is to prepare an optimal plan for the renewal of the ships of a fleet. The plan is mainly based on the assumption that the group of ships to be renewed is homogenous in tonnage and are operated on the same route. In other words, both the renewal cost and the additional annual profit do not differ from one ship to another. The procedure takes into consideration the rates by which the renewal cost will increase and the additional profit will decrease annually. Consequently the number of ships to be renewed annually and the total profit at the end of each year are given. Certain ratios of these additional profits are to be assigned for the renewal of ships in the next year. The problem is to find those ratios that maximize the sum of the remainder portions of the total additional profits at the ends of the terms of the plan. The dynamic programming techique is applied to solve this problem.

  • Corporate Authors:

    Arab Maritime Transport Academy

    ,    
  • Authors:
    • Mahmoud, M H
    • Hadi, M S
  • Publication Date: 1974

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Filing Info

  • Accession Number: 00131934
  • Record Type: Publication
  • Source Agency: Arab Maritime Transport Academy
  • Files: TRIS
  • Created Date: May 14 1976 12:00AM