What Qualities Should You Look for in Ship Management Services
Both local and international shipping management requires a strong relationship between the vessel owner and the ship management company. This type of business runs with trust and goodwill.
To start with, the money invested in owning a ship isn’t a trivial matter. One cannot buy a ship with small cash. Thus, should you be entrusting your ship to a company’s care, it should not only gain you profit but security as well. You’ll want to find a ship management company that can protect your ship while it is lent on their care.
If you are new to ship management, it will be helpful to know the basics.
What is ship management?
Owning a ship is something, you can cruise the seas anytime you want with anybody you want to be with.
However, cruising isn’t something you do on a daily basis. More often than not, your ship is only stuck on the harbour without any purpose at all. Ship management can make you money out of merely owning a ship. Ship management companies will rent your ship to be used for several purposes. This way, you’ll be paid for the rent and your ship will be utilized when you are not using it. A win-win situation indeed.
However, you must only entrust your ship to a reliable ship management company. You do not want your ship to be mishandled, right? Here are some of the tips you can consider when looking for a ship management company.
Credibility
This is by far the easiest quality to check. You can easily tell which international ship management company has a good reputation in the market. They are all over the news. You can also find some good reviews online. Your fellow ship owners can also advise you which company you can trust. You will want to ensure that the ship management company you will sign a contract with has good credibility.
Transparency
A partnership deal is always prone to hidden charges and dishonesty. It is always best to look for transparency when entrusting your ship to a ship management company. Check for their contract, quotations, the way they discussed the terms. All of these will help you test whether they are being transparent in the deal or not.
Experience
One should always opt for an experienced company in terms of providing ship management services. Experience teaches us how to do things the safe way, resolve problems, and avoid failures. You can never go wrong with trusting your vessel to an experienced ship management company.
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