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The Benefits of Ship Management

In this day and age, shipping plays a pivotal role in the global economy – and much like any other sector, it requires stringent management to function correctly. As a result, ship management is a crucial component of the maritime industry. From the maintenance of a private fleet to managing the sea transportation of important cargo, ensuring your vessels are properly cared for should be a top priority for any owner or operator.

There are many benefits of ship management – but first, what is ship management? And why is it important?

What is ship management?

As the name itself suggests, ship management is the management of maritime vessels by a professional ship management company, on behalf of either a private or commercial owner/operator. The management of marine vessels and ships such as bulk carriers, tankers and cruise ships is often implemented by large ship management companies who can leverage their scale and expertise to maintain and manage either a single vessel or a whole fleet. In addition to the actual maintenance of the ship, it’s also important to note that ship management companies can also manage the adjacent maritime services associated with the vessel, such as crew management and the transportation of goods.

What does a ship management company offer?

Ship management companies offer a variety of different maritime solutions and services, that can help to not only maintain the health of your vessel but also proactively manage the services associated with your fleet. Some owners/operators choose to render a few of the services provided by their ship management company while others opt to lease their vessels out completely. 

The benefits of a ship management company

In a nutshell, the services provided to you and your fleet will come down to what you need. A professional ship management company will offer a variety of different marine support services that can be tailored into a bespoke package that adds value to vessel operations.

Maintenance

As previously mentioned, a professional ship management company will handle the upkeep and maintenance of your vessel and will ensure everything is properly cared for. This includes the ship itself as well as any machinery, equipment or other infrastructure commonly found onboard.

Crew management

Finding and managing a crew to work onboard your vessel can be an overwhelming experience, to say the least. As a result, many owners/operators these days choose to pass the management of their crew to a ship management company. When done correctly and to a high standard, a professional crew management service will ensure your vessel is not only properly maintained, but also that the physical and mental wellbeing of your crew is taken care of. Among other things, this is paramount in cementing operational continuity aboard your vessel.

Transactions and negotiations

As many owners/operators choose to outsource their vessel operations to a ship management company, it is also often the job of the aforementioned company to handle the regulatory side of operations. This includes the ship operations themselves, which will be specific to the vessel itself.

It’s also important to note that a professional ship management company will take care of the insurance for your vessel, which essentially takes the hassle and stress out of finding a specialist insurance company.

Cargo management & supplies

Whatever specialist sector within the maritime industry your vessel is a part of, at some point, you are bound to be facing the loading and unloading of cargo. It may be important goods or even crucial supplies for the crew such as medicines and food. A professional ship management company will be able to take care of your cargo management, whatever that cargo may be.

Other benefits of ship management

There are of course numerous benefits of ship management (study here). Perhaps most pertinent in this day and age is the great technological strides within the industry in recent years and the digitalisation of the sector. These days, many ship management companies provide innovative digital solutions and services, including the use of centralised digital interfaces that provide full transparency and accessibility. Utilising these specialist platforms, many owners/operators can now collaborate with their ship management company to make data-centric decisions when it comes to their vessels.

What should I look for in a ship management company?

Ship management may sound like a fairly simple concept to wrap one’s head around. However in reality, it’s a highly complicated and specialised service. The company you choose should have experience in maintaining and managing your specific type of vessel. It’s also important to choose a ship management company that aligns with the core values of your own enterprise. Crew welfare for example is of particular importance, as is the company’s ability to coordinate and manage tasks.

Crew welfare

The welfare of your crew onboard your vessel should be of the utmost priority for you and your ship management company. A poorly nourished and overworked crew can increase the risk of accidents as well as impact their mental wellbeing which can have a lasting effect. 

A professional ship management company will ensure your crew is mentally and physically fit, with plenty of nourishing meals as well access to high-quality medical care.

Coordination

Your chosen ship management company will be able to streamline vessel operations, thus alleviating stress and tension with coordination, expertise and industry experience. This includes supervising the transportation of cargo as well as maintaining the records and documentation for your ship. A professional ship management company will also be able to coordinate the supply of provisions, goods and any other requirements you need.

Final thoughts

As the name itself suggests, ship management is the management of ships and other marine vessels by a professional ship management company. The purpose of a ship management company is to streamline maritime services such as cargo transportation and crew management. As a result, it’s considered a crucial service within the marine industry.

When choosing a ship management company to maintain your fleet, it’s important to find an enterprise that aligns with the values and views of your own organisation. Perhaps most importantly, it’s crucial that the physical and mental wellbeing of your crew is maintained as well as the infrastructure and physical components of your ship.

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