Ship Management

Ship Management Launches Reformed Governance Plan in Face of Waning Industry Profits

Expenses can be reduced and profits increased through more efficient operations management, publishes


Pori, Satakunta -- (SBWIRE) -- 02/24/2015 -- Recent economic breakdowns of ship ownership expenses indicate approximately 28 percent of the industry's total revenue is currently allotted to management while an additional 45 percent is typically earmarked for crew salaries and upkeep. With rising administrative fees figured into the equation, owners find their profit margins rapidly waning. In light of these issues, Mike Mulrooney of Ship Management has launched the company's reformed governance plan for clients.

Mulrooney affirmed, "Maintenance expenditures, as well as international and localized inspection costs, are a necessity to remain in compliance with ports across the globe and avoid additional fees. Crews certainly earn their wages, so the income designated for their salaries needs to be competitive. Those expenses aren't going to change, but a sizable portion of current management related costs can be reduced through more efficient operation. This is where we step in."

According to the Ship Management website,, owning a ship in the importing and exporting field entails a great deal of organization as well as maritime traffic and law oversight, proper maintenance, registration supervision on a number of levels and technical execution to name only a few key aspects. Expert management is crucial in all areas involved; however, owners often struggle in these fields. Continually changing laws regarding conformity to regulations across the globe only serve to compound those responsibilities.

Hiring and handling of crew members is also vital to the smooth operation of a ship though owners note such an undertaking detracts a great deal of time from covering additional responsibilities requiring their attention. As is the case in all industries, managing the various nuances of payroll and book keeping also has a tendency to complicate matters. Without a thorough understanding, these and countless other elements leave considerable room for error.

In order to increase the efficiency of their spending and operations, a growing number of owners are choosing to outsource such tasks as those listed at

Concluded Mulrooney, "We effectively cater to the needs of all clients whether they own a single ship or an entire fleet, and we offer as much or as little assistance as is needed. Our newly revamped management plan helps improve efficiency across the board, ensuring far less spending on overlooked details, so clients can expand their businesses as well as their profits.

We encourage anyone in need of help with their ship management routines to visit for more information or to request a free quote for our services."

About Ship Management
With expertise in all areas of operations, Ship Management focuses on helping clients make the most of their fleet income through greater efficiency and effective control in every facet of their industry.