An integrated fuzzy QFD model proposal on routing of shipping investment decisions in crude oil tanker market

11 Article history: 12 Available online xxxx 13 Keywords: 14 Fuzzy QFD 15 FAHP 16 FAD 17 SoQ 18 Shipping investments 19 Tanker markets 20 2 1 a b s t r a c t 22 Q5 Studying the market has crucial roles for executing the shipping investment decisions in maritime trans-23 portation industry. The high level of managerial effort requires bringing market tendencies with the up-24 to-date data over dynamic parameters. This paper extends the Quality Function Deployment (QFD) prin-25 ciples towards shipping investment process via the originally proposed Ship of Quality (SoQ) framework. 26 Furthermore, the Fuzzy Analytic Hierarchy Process (FAHP) and Fuzzy Axiomatic Design (FAD) algorithms 27 are integrated into the SoQ frame in order to manage quantitative outcomes to route the shipping invest-28 ment decisions. The SoQ is performed over a set of periodical data and recent trends of the principal crude 29 oil tanker markets such as Very Large Crude Oil Carriers (VLCCs), Suezmaxes, and Aframaxes in order to 30 ensure the illustrative results. As an effective investment tool, the proposed SoQ model is expected to 31 provide invaluable challenges for the relevant shipping executives.