LAUSR

Abstract Mathematical and simulation models of the nonlinear speed optimization under the influence of irregular winds and waves are established for a 48000DWT oil tanker. The objective functions are minimum fuel consumption of the main engine and maximum operating cost reduction. The influence of winds and waves on fuel consumption, the maximum operating cost reduction under different market conditions, and speed of single voyage for a given route are studied using the verified speed optimization model. The fuel saving rate of 1.07% by speed optimization compared with that at the punctual constant speed. Therefore, the speed optimization can reduce significantly the fuel consumption. In the five different market conditions, the single voyage cost reduction is as much as $85,865, compared with that at the punctual constant speed. The proposed model can be used to significantly improve a ship's operating economy and provide decision support for shipping companies.