The analysis does not recommend the use of gross profit objective or stochastic gross profit objective, as they are expected to give less profit per year.
It demonstrates the case where using a gross profit objective, with deterministic transport demand is considerably less profitable than using a gross-profit-per-day objective, with stochastic transport demand.
Table 9 Voyage details reported by the model (with gross profit objective) for each ship, at high speed Ship El Kosseir Safaga Sidi Kirear Total Voyage details Gross profit 1,285,528 670,383 3,520,086 5,475,997 Days 69.1 74.1 8225.825.8 Gross profit/day 18,604 9047 42,618,604267.
Suppose now that unconfirmed cargoes: 'Crude Oil 8', 'Crude Oil 9', and 'Crude Oil 10' are discarded, the profit-per-day criterion is also discarded and gross profit objective is used instead (which can be handled also by SOS Voyager).
Review comments can be sammarised in using a model with deterministic gross profit objective, with little shipping elements and rules, with no checks for validity, and with no facilities for non-OR users to deliver data and to run and interact with the model.
The analysis given by this section demonstrates the case where the deterministic gross-profit objective is considerably less profitable for tramp shipping than that given by the stochastic gross-profit-per-day objective.
In other words, old management policy of using gross-profit objective is not advised any more, even if stochastic transport demand is absent.
In tramp cargo transportation, as an example, the current policy is to select for each ship the cargo mix which contributes more to a gross-profit objective, assuming deterministic cargo transport demand.
In tramp cargo transportation, as an example, the current policy is to select for each transport unit the cargo mix which contributes more to a gross-profit objective, assuming deterministic cargo transport demand.
