Residual Fuel Oil Market: Risks and Opportunities for the Maritime SectorThe Transportation Sector, and by extension, public and private oceangoing shipping, is on track to become effectively the only remaining consumer of residual fuel oil (RFO) over the next several years in the United States. This work examines this changing demand and analyzes implications for the shipping industry and refiners. It develops an RFO demand prediction model using multiple regression. It also makes recommendations for increasing efficiency in the marine bunkering supply chain - improving corporate efficiency is one approach to managing cost and risk in this changing marketplace.
COVID-19 and the Fate of the Cruise Industry: A Holistic Answer to Regaining the Public's TrustThe cruise industry is facing a challenge that has never been seen before. The COVID-19 Pandemic has crippled a market that has been steadily growing for decades and, before this, showed no end in sight. As cruise lines halt operations, hemorrhage money, and call for loans just to stay in business, there also must be a complete shift in how these companies operate and vessels run in order to ensure viability. The general public has understood the risks of cruising since its inception, but this new era of uncommon hazards is changing their view to second guess safety and practicability of a vacation at sea. Patterns have begun to emerge where ship size, itinerary, common areas, and space ratios have all played an integral role in the spread of this pandemic onboard ships. Indications from the public have shown that they have little knowledge of how ships work and focus more on assumptions and grouping companies as a collective when assessing how safe the cruise market is. Since cruise companies tend to be merged together in the public's mind due to lack of understanding, the market as a whole needs to implement new strategies that are clearly visible to the public now and hidden from public view later on in order to create and maintain consumer confidence. The companies need to form a holistic approach to combat this spread and regain control of their industry. Presented in this thesis is evidence of a changing cruise industry landscape and strategies to better safeguard the market from the likelihood of this happening in the future. Additional research after implementation of the industry's new operating structures would be beneficial to improve on these findings.
Analysis of the "Additive Increase Multiplicative Decrease" Model for Congestion AvoidanceAs technology advances, network congestion avoidance becomes increasingly more important. For this project, we attempted to analyze and optimize the Additive Increase, Multiplicative Decrease (AIMD) algorithm to gather data for our partner company. We created our own AIMD models and ran simulations to find and compare relevant data.
A Study on the Northern Sea Route and its Economic FeasibilityFuture predictions support that Suez Canal will not be able to compensate the increasing size of ships that are used for trade between Asia and Europe. Relevant studies (Verny & Grigentin, 2009) also indicate that the economic growth of China is moving from the Southeast to the North. Therefore, alternative routes need to be considered in order to minimize transportation costs and satisfy demand of the traded containerized products between Northern Europe and Northern China. One of those alternative routes is considered to be Northern Sea Route (NSR). This research paper, thus, examines the economic feasibility of this route taking into account both the advantages and disadvantages that this route has to offer.