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American Journal of Business and Operations Research

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Online: 2692-2967 Print: 2770-0216
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American Journal of Business and Operations Research
Full Length Article

Volume 7Issue 2PP: 08-18 • 2022

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

Abedallah Z. Abualkishik 1* ,
Rasha Almajed 1 ,
William Thompson 2
1American University in the Emirates, Dubai, UAE
2Towson University, Towson University, Maryland's University, USA
* Corresponding Author.
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

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Abualkishik, Abedallah Z., Almajed, Rasha, Thompson, William. "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. Volume 7, no. Issue 2, 2022, pp. 08-18. DOI: https://doi.org/10.54216/AJBOR.070201
Abualkishik, A., Almajed, R., Thompson, W. (2022). 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, Volume 7(Issue 2), 08-18. DOI: https://doi.org/10.54216/AJBOR.070201
Abualkishik, Abedallah Z., Almajed, Rasha, Thompson, William. "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 Volume 7, no. Issue 2 (2022): 08-18. DOI: https://doi.org/10.54216/AJBOR.070201
Abualkishik, A., Almajed, R., Thompson, W. (2022) '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, Volume 7(Issue 2), pp. 08-18. DOI: https://doi.org/10.54216/AJBOR.070201
Abualkishik A, Almajed R, Thompson W. 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. 2022;Volume 7(Issue 2):08-18. DOI: https://doi.org/10.54216/AJBOR.070201
A. Abualkishik, R. Almajed, W. 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. Volume 7, no. Issue 2, pp. 08-18, 2022. DOI: https://doi.org/10.54216/AJBOR.070201
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