High Value-added Maritime Services: The Rise of Third-party Ship Management

          Shipping Management   

Rise of third party ship management

Ship management is supervision and management of shipping and its traffic. This includes the registration and management of ships, management of foreign vessels, ship maintenance management and account of ships entering and leaving the port. Ship management clearly is not an easy task. The part and parcel of this lucrative industry can be discerned by enrolling any shipping management course.

In the prevailing times; especially when many ships are of magnanimous size and the demands of sophisticated shipping services are wide and witnessing an unprecedented growth; the need to hire a third party ship management becomes prevalent. The ship management services essentially include a crew, dry-docking, supplies organization, regulation compliance, and maintenance.

Third party ship management experts also offer consultancy services in ship engineering, construction assistance, and shipyard selection. Traditionally the ships are managed by the ship owner himself. Now almost all the organizations involved in the industry are humongous and owns many ships; therefore needs outside help to manage their business and fleet.

The ship managements these days have become established and have grown specialized in technical as well as the business front. But the industry too, has grown big and complicated. The shipping companies who previously ran their own in-house shipping management are now opting for outside assistance like third party management. The increasing number of such management agencies has made it easy for the shipping companies to outsource their regular operational functions to professional managers.

The biggest advantages such shipping services offer is that the service assistance can be provided at one location for quality combinations at the desired price. Professional third-party ship managers strive to fetch you the best shipping services at the most attractive costs available in their region or indeed around the world.

Due to a rapidly changing global business environment these challenges have become acuter. The overhang of worldwide vessel oversupply post-2009 has continued to exert downward pressure on driving down income and freight rates on the other hand. The same time as a result of tightening of regulatory measures on greenhouse gas emission from the International Maritime Organization (IMO) compliance costs have grown. Ship management by complying with all the rules while fetching less cost is a daunting task. Hiring the services of a third party ship management can only be helpful.

Ship management is increasingly becoming a lucrative industry. The shipping management courses offered at Transglobe train you in all aspects of third party ship management.