Ship Management and Logistics

Paper Summary:

The paper examines how shipping continues to go through a period of new international regulations. The paper explores how the strategic view is one of forward planning to identify, by time scale, when new regulations are introduced and to make provisions for them in terms of ship management and ship investments. The paper further examines how outsourcing ship management to professional ship management companies, who use their expertise to interpret these regulations in the most effective and rational manner, has become an inevitable and viable option. The paper concludes that, in these circumstances, outsourcing logistics needs to professional 3rd party logistics providers is a viable solution.

From the Paper:

"Those that own ships often assign a full array of management functions to third parties. Owners who state that they use third parties for their ship management also indicate that they more frequently use these companies for their crewing and technical management and less frequently use them for commercial management. It is also worth mentioning that some ship owners, even those that have never taken on any kind of third party management for their fleets, appear very willing to allow others to control chartering and sale and purchase, while they retain rights toward making any final decisions. Greek ship owners, for example, seem to have a particularly negative attitude when it comes to giving up control over the more technical management of their fleets."

Sample of Sources Used:

• Agrawal, M.K. & Park, M.H. (2001). "Getting smart about supply chain management." The McKinsey Quarterly, (1): 22.
• Armstrong, E. (2005). "5th annual analysis of third-party logistics provider (3PL) customer identifies trends and market segments." Armstrong and Armstrong. 4, December 2005: http://www.3plogistics.com/PR_3PL_Customers-2005.htm
• Bigras, Y. & Genile, R. (2004). "The characteristics and feature of SMEs: Favourable or unfavourable to logistics integration." Journal of Small Business Management, 42(3): 263.
• Branch, A.E. (1998). Maritime Economics Management and Marketing (3rd ed), Stanley Thornes Ltd., Cheltenham, United Kingdom.
• Branch, A.E. (2000). Shipping and Air Freight Documentation for Importers and Exporters and Associated Terms (2nd ed). Witherby Publishing Ltd., London, UK.

More papers on Ship Management and Logistics:

• Term Paper # 75394 : "Supply Chain Management (SCM) "
• Term Paper # 125485 : "Logistics in a Global Economy"
• Research Paper # 74411 : "Strategic Role of Transport in the Economy"

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