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The bunker cost the government $10 million.
A double-bogey five on the 16th hole on Sunday, where he took three shots to get out of a bunker, cost him his chance of glory.
The paper also includes a cost model to simulate the impact of bunker cost changes on the operational costs of liner services.
A mixed-integer non-linear stochastic programming model is developed for the proposed liner ship route schedule design problem by minimizing the ship cost and expected bunker cost while maintaining a required transit time service level.
He failed to birdie any of the four par fives, and bogeys at the 11th and short 16th, where he almost hit back into the water from the bunker, cost him a 38 coming home.
Although bunker cost savings is a major incentive for slow-steaming, the impact of the fuel price level alone is not as salient as one might suspect because fuel surcharges, or bunker adjustment factor (BAF), distort the economic signal that the fuel price provides to shipowners in regard to sailing speed (ibid).
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to deal with increased bunker costs.
The model also shows shipping lines are reacting quite late to higher bunker costs.
We evaluate our model on realistic data from the LINER-LIB and perform a sensitivity analysis of transit times versus bunker costs.
This paper deals with the impact of increasing bunker costs on the design of liner services on the Europe Far East trade.
A market survey has shown that 75% of the surveyed liners and carriers apply slow steaming in order to save bunker costs (Seatrade Global 2014).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com