Mumbai, June 22, 2007: For a ship owner it is of vital importance to understand the component of risk factor at the corporate or strategic level while managing a ship. At the same time ship management is an expertise which has to be effectively carried out in order to maximize the returns while minimizing the costs and risks simultaneously.

Bharat Book Bureau, a leading market information research aggregator, put forth a publication Ship Management 2006 in order to guide one through ship management in context of business development strategy.

Global Shipping is a big business. The financial investments are huge both in terms of value of cargos transported as well as the ancillary costs involved in delivering the cargo to its final destination. Shipping business is risk laden as it depends on the vagaries of nature, there are varied policies under which one has to operate some at national level and some at global level. There is always a risk of loss either of life or vessel or cargo has to be taken into account financially. Thus the other two  major global ‘service enterprises’ – finance and insurance. are also deeply involved in the shipping trade. Shipping business may be a long term commitment to some while others may see it as commodities to be traded at opportune points in the market cycle.

This guide takes into account the ship, its ownership and management, along with the purview of  technical management and commercial management involved. The commercial management involves securing of a vessel income, its organization and management of voyage cost streams . On the other hand technical management involves crew recruitment, training, organising and managing functions and operations of the ship, regular supervision as well maintenance of the vessel in sea worthy condition. The administration takes into account policy making, budgeting, taxation, legal and financial planning as well as advertising and marketing of the ship. Last but not the least important aspect considered is third party management of the ship.
 

However, in absence of  global ‘policing force’ in shipping industry, the ship owners have the freedom to act in a way best suited to them, the decision of outsourcing again lies in the hands of the ship owners. It is believed that one quarter of the world fleet is managed by third party management, hence chances of outsourcing ship management increase when ship owners expand their fleet.

An extremely balanced shipping equation in economic terms as well as in terms of safety, environment, life requires efficient and effective shipping management either outsourced or in-house function.

About Bharat Book Bureau:
 

Bharat Book Bureau, leading information aggregator based in India, facilitates and supports the business information needs by providing relevant information on shipping industry published by global agencies on Shipping Law, Shipping, Shipping Finance etc. including country info, technical and management subjects, both in print and electronic format. These include reports, newsletters, country and company profile and online databases.

Kindly visit our website : http://www.bharatbook.com/general/Shipping.asp know more about the reports of your interest.

BharatBook.com is an aggregator of global business intelligence representing the most comprehensive collection of published market research available on-demand. Strategy starts with the most relevant, current and credible research available. Strategy starts here.

Copyright © Bharat Book Bureau, 2004."3B" is the Trademark of Bharat Book Bureau.
Phone: (+9122 )27578668 , 27579438 Fax:(+9122 )27579131
Hours: 9:00 am to 8:00 pm IST Monday to Friday & Saturday 9:00 am to 6:00 pm IST
Email: info@bharatbook.com