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American Journal of Business and Operations Research
Volume 7 , Issue 2, PP: 08-18 , 2022 | Cite this article as | XML | Html |PDF

Title

An Innovative Multi-Criteria Decision-Making (MCDM) Framework for Picking the Right Used Chemical Tankers: A Classified Model-Based Discussion

Authors Names :   Abedallah Z. Abualkishik   1 *     Rasha Almajed   2     William Thompson   3  

1  Affiliation :  American University in the Emirates, Dubai, UAE

    Email :  abedallah.abualkishik@aue.ae


2  Affiliation :  American University in the Emirates, Dubai, UAE

    Email :  rasha.almajed@aue.ae


3  Affiliation :  Towson University, Towson University, Maryland's University, USA

    Email :  wvthompson@towson.edu



Doi   :   https://doi.org/10.54216/AJBOR.070201

Received: April 03, 2022 Accepted: August 22, 2022

Abstract :

Because chemical tanker boats are so expensive to build and maintain, shipping firms may not be able to supply their clients with fair transportation pricing. As a result, shipping businesses may find various benefits and chances by purchasing second-hand chemical tanker vessels. But picking a chemical tanker is a hard task that requires overcoming numerous misunderstandings and weighing several conflicting factors.  A novel MCDM technique has been proposed in this study for this aim. EDAS approach is used in the proposed model, to handle uncertainty. In order to demonstrate efficacy, relevance, and robustness, the model was used to address decision-making issues involving the selection of suitable second-hand chemical tankers from a pool of 10 (alternatives). The chemical tanker boats were evaluated using 14 distinct choice criteria in the present article. The findings show that the most important factor is "CTC6′′ Maintenance cost," and the best and most preferred chemical tanker is "CTA6"

Keywords :

MCDM; Chemical tankers; EDAS; Maritime Industry; Transportation; Shipping firms

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Cite this Article as :
Abedallah Z. Abualkishik , Rasha Almajed , William Thompson, An Innovative Multi-Criteria Decision-Making (MCDM) Framework for Picking the Right Used Chemical Tankers: A Classified Model-Based Discussion, American Journal of Business and Operations Research, Vol. 7 , No. 2 , (2022) : 08-18 (Doi   :  https://doi.org/10.54216/AJBOR.070201)