Impact of dynamic information on empty container repositioning in a seaport with uncertainties

This paper investigates the impact of dynamic information on empty container repositioning in a seaport with uncertainties. Discrete-time dynamic programming is used to formulate the problem and minimize the expected costs consisting of inventory, leasing, and repositioning costs over an infinite horizon. The value iteration algorithm is applied to evaluate the optimal policies under the different schemes depending on whether or not the dynamic information of demands and shipments is utilized. A full factorial experiment is designed to compare the relative performance of different policies, and shed light on which type of policies is appropriate in which situations so that the potential benefits and the required effort can be balanced.