The analysis of suitable cargo selection for ships by using multi criteria decision making methods

Maritime transportation is a risky sector, which has a fluctuating structure. Cyclical and high-risk pattern of the sector complicates the cargo selection of the ships, which is directly related to the freight earnings determination processes that generate the economical income. Accurate decisions on cargo selection can only be made by analysing the factors that affect the freight earnings and other economical determinants. Therefore, in this study, impacts of risks and other factors on cargo decisions, which are considered as the only economical income for the shipping companies, are investigated. Fuzzy multi-criteria decision making techniques are used in order to determine the factors that have to be taken into consideration during the process of convenient cargo selection. Also, comparative analyses have been made for the bulk cargoes, which are transported mostly all around the world. Results of the study revealed that the most important factors in terms of cargo selection are net freight income, loading conditions, fuel consumption of the voyage, possibility of stowaways and piracy, the position of the next voyage and loading-discharging costs. On the other hand, the least important factors are found to be personnel, ship certificates and the freight contracts. One of other outcomes of the study shows that, Portland cement is the most and the fertilizers are the least preferred dry cargoes in maritime transportation.