Description
Summary:By its nature shipping sector is governed by a multitude of statutory regulations at both national and international levels. Moreover vessel prices and freight rates are influenced by many factors including international economics and politic, social factor. Making decision on which type & size of vessel to invest has become harder because of the difficulty of estimating effects of above mentioned factors on the ship prices and the freight rates. For profitable ship management, deciding the type and tonnage of the ship is as important as managing the ship. The main aim of this study is to utilize fuzzy logic multi criteria decision making techniques to develop a quantitative method for making decision on which vessel to invest. For this purpose three different type, size and age vessels that have close prices on second-hand ship market is chosen. The decision between these three vessels namely 8650 DWT bulk carrier ship; 550 TEU container ship and 5850 DWT chemical tanker is examined with fuzzy logic multi-criteria decision making taking into account factors that affects ship management processes.
ISSN:1304-0448
1304-0448