Ship management refers to the provision of various support services to vessels, so that vessels can be operated in compliance with the local and international regulations. Ship owners can either manage their vessels directly, or entrust professional ship management companies through contracts with the management of their vessels.
The ship management companies are responsible for recruiting the crew members required for the operation of vessels. Such crew members include Captains, Chief Engineers, other officers, ratings or seafarers, chefs, stewards, cadets, etc. The management companies must ensure that the crew members have already completed training which meets the international standards and obtained the respective certificates for their positions. Also, the management companies should guarantee that there are sufficient food reserves, fuels, engine oil and spare parts on board the vessels; and make certain that the Captains have the latest navigational chart and navigational data to sail to the destination ports, so as to ensure navigational safety.
For the sake of the safety of vessels and members on board, ship management companies should ensure that vessels have taken out the insurance necessary for operation, so that the vessels can enjoy insurance protection and receive compensation if they suffer damage, collide with other vessels, hit and damage piers, have cargoes damaged, or have sick or injured crew members. The ship management companies will also take out insurance against oil leakage incidents and subsequent clean-up actions.