It costs 10% of a ship’s worth to maintain it yearly. If your boat costs $20,000, you will probably spend $2000 on maintenance every year.
But what if you don’t have to spend that money? What if someone else takes care of it for you, and you still get paid? Some might consider that a double win! This is precisely the service that ship management companies can provide you.
What is a Ship Management Company?
A Ship management company (SMC) provides a range of services to the maritime industry. From providing vessel management and crewing to providing ship-tracking and marine information technology.
They play an essential role in the efficient operation of the global maritime economy, helping ships reach their destinations on time and safely.
SMCs employ various professionals with experience in shipping, management, logistics, finance, and engineering to provide comprehensive solutions to their clients’ needs.
It all adds to the client’s financial advantage, who no longer manages the vessel personally. They agree on the kind of services the company will offer, the duration, and the amount payable to the ship owner.
The ship owner can decide to change SMC if they are not satisfied with its services during the agreement’s duration. This company leader’s firm, for example, specializes in ship management, and they always ensure the best possible shipping services to their customers.
What Services Do Ship Management Companies Provide?
Depending on the agreement you have with the ship management company, they will take care of the below-mentioned services for you:
Maintenance of the Ship
The ship management company will handle maintaining your ship for you, from its routine inspection and maintenance to its repairs. You don’t need to hire any mechanic to check your boat and make sure it’s in good condition.
It is the job of the ship management company to monitor all repairs and maintenance that need to be done on your ship. They will make sure all spare parts are available and that your boat is seaworthy.
Provide and Coordinate Crew Movements
Your ship needs crew members to man it. Fortunately, that’s one of the benefits you get when you hire a ship management company. They are experts at hiring skilled and experienced people for the job.
They will hire qualified personnel for your ship and take care of their training and onboarding for you. They will make sure that the right people are in the right place at the right time.
Ensure Ships Comply With Safety, Security, and Environmental Regulations
The ship management company will ensure all your ships comply with necessary maritime regulations such as SOLAS, the International Convention for the Prevention of Pollution from Ships, and MARPOL.
They will monitor where your ships are and make sure the vessel complies with all maritime laws.
Handling Cargo and Navigation Services
Your ships will have cargo that needs to be moved from place to place, and the ship management company will make sure that happens without any complications.
They will provide end-to-end freight forwarding services, including storage and shipment management.
Handle Communications and Paperwork
Ship management companies have experts at handling communications and paperwork for shipping entities and their clients. They will coordinate all the shipping activities for you and your clients, including arranging shipments and managing invoices and documents.
It can be overwhelming to maintain a ship manually, but hiring professionals to do this for you can help you focus on other vital aspects of your business.
Why You Should Use a Ship Management Company
If you are not in the maritime industry, contracting the services of a ship management company makes sense. As a result, you (the ship owner) have more time and flexibility to focus on their other projects without being distracted by day-to-day issues.
The flexibility of this service is appreciated by many ship owners, and they can then use it to grow their company in the long run.
Now you know what ship management companies do. You should consider hiring professional services to save yourself time and money if you own a boat.
Not only do you not need to spend thousands on maintaining its condition, but you also get to focus on handling other essential aspects of your life.