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Third party ship management: the case of separation of ownership and management in the shipping context

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  • Dr. Kyriaki Mitroussi

Abstract

The last four decades have seen the rise of third party ship management and its evolution into an industry in its own right. This signified a new reality in ship management practice, whereby the traditional custom of doing business with the ship owner being also the ship manager was abandoned and a revolutionary model that assigned the role of the owner and the role of the manager to two different entities was proposed. In essence, then, third party ship management comes very close, in principle and in practice, to the separation of ownership and management as experienced in many industrial fields, after the emergence, in the last half of the 19th century, of the salaried manager. The purpose of this paper is to examine the forces at work in the process of such separation with a view to provide an insight into the relevant, contemporary parameters that can be considered instrumental in the strategic decision to employ third party ship management

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  • Dr. Kyriaki Mitroussi, 2003. "Third party ship management: the case of separation of ownership and management in the shipping context," Maritime Policy & Management, Taylor & Francis Journals, vol. 30(1), pages 77-90, January.
    • Handle: RePEc:taf:marpmg:v:30:y:2003:i:1:p:77-90
    DOI: 10.1080/0308883032000051649
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    References listed on IDEAS

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    1. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
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    Cited by:

    1. Yang, Zhisen & Yang, Zaili & Yin, Jingbo & Qu, Zhuohua, 2018. "A risk-based game model for rational inspections in port state control," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 118(C), pages 477-495.
    2. Su-Han Woo & Hee-Seok Bang & Sally Martin & Kevin X. Li, 2013. "Evolution of research themes in Maritime Policy & Management—1973--2012," Maritime Policy & Management, Taylor & Francis Journals, vol. 40(3), pages 200-225, May.
    3. Liu, Kezhong & Yu, Qing & Yang, Zhisen & Wan, Chengpeng & Yang, Zaili, 2022. "BN-based port state control inspection for Paris MoU: New risk factors and probability training using big data," Reliability Engineering and System Safety, Elsevier, vol. 224(C).
    4. Simona Utureanu & Cristina Dragomir, 2016. "Managerial Ship Procedures in Case of Oil Pollution in Maritime Transport," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 397-401.
    5. Yang, Zhisen & Yang, Zaili & Teixeira, Angelo Palos, 2020. "Comparative analysis of the impact of new inspection regime on port state control inspection," Transport Policy, Elsevier, vol. 92(C), pages 65-80.

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