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Highlights • We optimize shipping schedule for steel plants cluster alongside inland river. • The model considers timely demands of steel plants over multiple periods. • A MIP formulation and dynamic programming algorithm are developed. • We explore the iron ore trade volume under various scenarios. Abstract This paper aims to provide an optimal shipping schedule for steel-manufacturing plants cluster alongside the Yangtze River by developing a mixed integer programming formulation. The model takes into account the multi-layer shipping network on the Yangtze River, the dynamic iron ore price and transportation costs, and the timely demands of steel plants over multiple periods. By applying the proposed model to a real-world case, several interesting findings are observed, leading to further useful managerial insights. We also propose an exact solution approach based on a dynamic programming algorithm to a special case of this problem motivated by real-world practice. [ABSTRACT FROM AUTHOR]