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Admiralty law. Ship management is the activity of managing marine vessels. The vessels under management could be owned by a sister concern of the ship management company or by independent vessel owners. A vessel owning company that generally has several vessels in its fleet, entrusts the fleet management to a single or multiple ship management ...
Total cost of ownership ( TCO) is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or service. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs . For manufacturing, as TCO is typically compared ...
Shipbuilding. Shipbuilding is the construction of ships and other floating vessels. In modern times, it normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to before recorded history .
In economics, a public good (also referred to as a social good or collective good) [1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [1] Therefore, the good can be used simultaneously by more than one person. [2]
Fleet Management is a function which allows companies which rely on transportation in business to remove or minimize the risks associated with vehicle investment, improving efficiency, productivity and reducing their overall transportation and staff costs, providing 100% compliance with government legislation (duty of care) and many more.
Ships husbandry or ship husbandry is all aspects of maintenance, cleaning, [1] and general upkeep of the hull, rigging, and equipment of a ship. It may also be used to refer to aspects of maintenance which are not specifically covered by the technical departments. [2] The term is used in both naval and merchant shipping, [3] but naval vessel ...
Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. [ 2] It guides managers in making decisions relating to the company's customers, competitors, suppliers, and ...
Seamanship on a commercial level involves a knowledge of all the different ship types (such as bulk carriers, container ships, oil tankers, cruise ships, platform supply vessels, and others), including a basic knowledge of ship recognition, a basic understanding of nautical terms, ship structure and naval architecture and cargo operations ...