What is Technical Management?

Full Ship Management Services.

Technical management, or full ship management is the maritime service rendered to maintain and operate vessels, as commissioned by a ship owner or charter. Rather than the ship owner, these duties can be performed via a third party ship manager.

Technical ship management includes the registration of vessels, operations, service, technical maintenance, as well as management of crew. It can also include the business and commercial management of a vessel, such as its chartering and financial administration.

These management services are undertaken by a dedicated technical department, including an expert team of marine engineers, purchasing, information technology, safety, quality and environmental protection, insurance, as well as financial and administration personnel. Furthermore, a variety of highly specialised software and systems enable the technical management department to manage all aspects of operations.

Since third party ship management companies provide these technical ship management services to a variety of ship-owning clients, they are able to take advantage of more substantial economies-of-scale, such as in purchasing, supported by stronger and more diverse networks of suppliers and partners. This encourages greater efficiency and ultimately translates to lower operating costs for ship owners.

In addition, due to the changing nature of some owners, such as more external investors, banking and financial institutions, third party full ship management has become a growing sector.

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