This paper describes a stochastic ship routing problem with inventorymanagement. The problem involves finding a set of least cost routes fora fleet of ships transporting a single commodity when the demand for thecommodity is uncertain. Storage at supply and consumption ports is limitedand inventory levels are monitored in the model. Consumer demands are ata constant rate within each time period in the deterministic problem, and inthe stochastic problem, the demand rate for a period is not known until thebeginning of that period. The demand situation in each time period can bedescribed by a scenario tree with corresponding probabilities.