Routing and scheduling in project shipping

Tramp shipping companies are committed to transport a set of contracted cargoes and try to derive additional revenue from carrying optional spot cargoes. Here, we present a real life ship routing and scheduling problem for a shipping company operating in project shipping, a special segment of tramp shipping. This segment differs from more traditional tramp segments, as the cargoes are usually transported on a one‐time basis. Because of the special nature of the cargoes, complicating requirements regarding stowage onboard the ships and cargo coupling must be considered while determining routes and schedules for the ships in the fleet. A mathematical model is presented and a tabu search heuristic is proposed to solve the problem. Computational results show that the tabu search heuristic provides optimal or near‐optimal solutions in a reasonable amount of time, and that it can give significant improvements to manual planning for the shipping company.