Bharat Book Bureau

The ever-changing environment of ship management is becoming increasingly complex. latest Ship Management report examines the principal components of the market and the implications of third party management.

• The nature of ship ownership
• The implications for ship management
• The market for third party ship managers
• Commercial management
• Technical management
• Administration Training

Product Description

Through detailed research and analysis the report examines the crucial factors shaping the ship management market.

Ship management and the shipping industry:

Shipping and risk exposure
Market for ship managers

Commercial management:

Chartering choices and cost factors
Reading the market - cyclical influences and other factors

Technical management:

Manpower availability and costs Management issues relating to crew matters The R&M regime Management issues relating to R&M or ship equipment matters Procurement regimes and management issues relating to the stores and supplies budget Management issues relating to insurance Regulatory issues Risks and proactive approaches

Move towards third party ship management

The Ship Management report provides key insights into the industry and the future growth of the market. Its data and analysis include:

Ship owners and concepts of risk management
Commercial and technical management - the options for outsourcing
Third party ship management and questions of liability - including the ISM Code, ISPS and Marpol as well as growing levels of national or regional legislation
The market for third party ship managers - management quality and difficulties of product differentiation

Main findings

Ship Management report provides an independent and detailed assessment of the ship management market, analysing the main areas of management, how it aligns with the overall risk management evaluation and the options for outsourcing. Focussing on the implications of ship management and the market for third-party ship managers, the report assesses the nature of ship ownership, commercial management, technical management, administration and training.
 
The nature of ship ownership

Describing the various ship owner types and multiplicity of the shipping business, It identifies the areas of risk management. Providing an overview of both commercial and technical management, it reports the options for third party management and questions of liability.

Commercial management

This section examines the shipping market and its economic cycles, the impact on ship chartering and differences across industrial sectors. It also monitors and measures the fundamentals of the freight market and rates. The report also analyses key ship running costs and the influence of the forward market, the newbuilding market and the demolition market.

Technical management

focuses on the availability and costs of manpower and key management issues relating to the crew alongside an evaluation of the ship repair and maintenance regime - including classification requirements, equipment recommendations and policy choices and fuel-related issues. Technical management also has a remit covering areas such as procurement policy and the stores and supplies budget, insurance, regulatory requirements and response planning.

Administration

An analysis of the key activities associated with shipping companies covering the unavoidable and the optional as well as the core administrative needs within a ship management company.

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Every year Drewry presents analyses of operating costs. We now have data for 9 different ship types/sizes covering the period 2000 to 2008, plus five year projections. The picture we can give is accurate, independent and covers all major shipping sectors – sector by ship type by size and ship type by size and age.

Recession – just a brief amnesty on rising costs

What a difference a year can make. Drewry’s 2008 Report warned of increasing operating costs but also the uncertainty to come. Cash rich ship owners may have put aside funds for a rainy day but some commentators doubt this. Deepening recession may have curbed cost increases but for how long. This 2009/2010 Report provides analysis of the figures and interpretation of what they mean.

Key questions:

    * R&M – what is the best strategy? Spend, scrap or mend and make do?
    * Insurance – there is pressure on premiums yet asset values are falling. Plus the fear of rising fraudulent claims is worrying marine insurers.
    * Officer and skilled crew shortage – a feature of recent years but what is the current situation and how will it play out in the medium term?
    * With ship owners having to tighten their belts what are the dangers of false economies with both stores and supplies?
    * Managements that have grown up with demand excess are suddenly having to cope with a completely new set of business dynamics. How will they cope?

Manning

In the short term, manning costs should remain stable with wage costs static. There have been a number of warm lay-ups where crews have been retained. The increase in the overall number of vessels should means wages will at least be stable rather than decline and demand for seafarers stays ahead of supply. But the first signs of recovery will bring modest increases. Costs are predicted to be back on an upward trend by… read the Report to find out.

Insurance

The picture for marine insurance is hard to predict. Hull rates have risen but declared asset values have gone down alongside a strong P&I hike. Whereas insurers would like to raise premiums, owners will resist although Drewry predicts the insurers will have the upper hand in 2010. Two critical factors will make the owner’s position worse… find out more in the Report.

Repairs and maintenance

In the short term, R&M bills should reduce. Steel costs have dropped enabling repairers to be competitive on prices whilst retaining margins. Yet, cash-strapped owners are going to be very selective about the repairs and maintenance that is carried out. But, other factors could spoil the R&M party for owners…

Stores and supplies

Pursuing the cheapest options – tempting though they may appear to be - are likely to lead to false economies. The biggest element is lubes and so the cost of these will reflect the varying price of oil. Barring unforeseen substantial oil price hikes, the stores and supplies budget should stabilise and perhaps even become deflationary. The Report has the full analysis…

Management

Management’s current occupation should be the evaluation and containment of risk. Chief amongst risk factors are counterparty risk and the negotiation of credit. Cost reductions may be the order of the day but these need to be assessed and monitored carefully so the effect on crew, vessel and environment, not to mention customer service, is not detrimental. Drewry’s Report forecasts when costs may rise again with commentary on other factors that management needs to factor in…

Keeping the lid on operating costs

A year ago, ship owners were both asset and cash rich. With rates on the floor the change-about has been severe; cash management is the new mantra and the need to minimise operating costs has never been more crucial… a whole new ball game for many managers.

Operating Cost Data sheets for all major vessel types:

    * Tankers
    * Chemicals
    * LPG
    * LNG
    * Dry Bulk
    * Container
    * General Cargo
    * Reefer
    * Ro-Ro

Drewry’s latest Annual Report offers an independent assessment of headline costs with five-year projections.  Including:

    * Manning and crewing
    * Insurance – H&M, P&I and others
    * Repairs and maintenance, including dry docking provisions
    * Stores, spares and supplies
    * Management and administration

For more information kindly visit
http://www.bharatbook.com/Market-Research-Reports/Ship-Operating-Costs-Annual-Review-and-Forecast-.html