Abstract
This chapter explores bunker fuel management in maritime transport, focusing on economic, environmental, and operational challenges. It reviews the impact of International Maritime Organization regulations on emission reductions and international seas. Additionally, it reviews strategies for optimizing bunkering decisions, using conventional and alternative fuels, and the role of advanced methodological applications such as machine learning and optimization. The chapter also highlights the possible disruptions in maritime operations and their impact on fuel bunker management and accordingly, proposes necessary strategies for resilience. Future research directions on fuel management have been depicted which include real-time optimization models and integrating fluctuation bunker fuel prices, new regulations, alternative fuels, and disruptions to navigate to a sustainable maritime future. This chapter contributes to the extant literature of bunker fuel management by highlighting the recent research trends and future research scope. The chapter highlights the possible ways the traditional bunker fuel management strategies need to be updated while aligning with the governmental regulations in international waters. This would not only be essential in minimizing the operational costs for vessel owners and shipping companies but would also reduce their environmental impact.
Original language | English |
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Title of host publication | Encyclopedia in Operations Management |
DOIs | |
Publication status | E-pub ahead of print - 21 Nov 2024 |
Keywords
- Maritime Transportation
- Optimization
- Bunker fuel management
- Bunker Fuel
- IMO Regulations