The International Institute for Science, Technology and Education (IISTE)
Abstract
The movement of containerised goods made 2009 debatably the most dramatic year in the history of the box. A Bayesian network methodology associated with the cause and effect analysis technique is introduced to analyse the global economic conditions, the container market demand and the bunker fuel price in order to measure the financial performance of a containership. This method demonstrates the combination of qualitative and quantitative criteria in order to ensure that the best possible decision can be made by a shipping company. As a consequence, the result provided by the Bayesian Network method can be used as an indicator for helping shipping lines plan a cost-effective business strategy. Keywords: Bayesian Network Method; Uncertainty Treatment; Vessel Speed; Containership; Decision Making Technique.
