This study also aims to find the maximum profit for the carrier under the optimal order quantity of the shipper. Therefore, this study suggests that the shipper should pay reservation fee when booking container slots. In addition, uncertainties in the quantity of container slots booking made by the shipper might cause revenue loss to the carrier and low utilization of ship capacity in the daily operations of liner shipping services. To address this issue, this study develops a Newsvendor model to find the optimal order quantity of container slots for the shipper. However, one problem in the booking process is that the actual demand is uncertain, resulting in mismatch between the required demand and the booked quantity. In the liner shipping industry, if a shipper wants to transport its cargo by container ships, it first needs to contact a carrier to book container slots based on the estimated transportation demand.
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