| Sets and indices |
| set of electricity coal loading ports, |
| set of electricity coal unloading ports, |
| set of operating years, |
| set of owned ships, |
| Parameters |
| annual average demand of electricity coal from loading port to unloading port in the th year |
| estimated residual value rate of ship |
| estimated available life of ship |
| actual cargo capacity of own fleet in the th year |
| purchasing price of ship |
| average cargo carrying capacity of unit owned fleet |
| average voyage time of unit own fleet in the th year |
| indicator of whether the ship is still in operation in the th year |
| ship's operating costs in the th year, representing the crew's wages, insurance premiums, insurance and indemnity fees, ship maintenance fees, ship moisturizing fees, ship material fees and management fees in the th year |
| port charges of the loading port and the unloading port in the th year |
| refueling amount of heavy oil in the th year |
| refueling amount of light oil in the th year |
| opportunity loss ratio of own fleet in the th year |
| expected price of heavy oil in the th year |
| expected price of light oil in the th year |
| expected coal freight rate in the th year |
| Decision variable |
| proportion of self-owned fleet capacity in year |
| Derived variables |
| annual capital cost of self-owned ship |
| operating costs of self-owned ship in the th year |
| voyage costs of self-owned ship in the th year |
| rental cost of chartered vessels in the th year |
| opportunity loss for self-owned capacity in the th year |
| optimal capacity of electricity coal for self-owned fleet in year |
| optimal capacity of electricity coal for chartered ships in year |
| optimal number of ships in the self-owned fleet in year |