Strategic Overview of Third Party Ship Management: Key Success Factors

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This paper discusses the controversy surrounding the level of success and competitiveness of the thirdparty ship management sector as well as the reasons or factors driving this development or lack thereof.

Opinions are divided on the share of the total world fleet which is being managed by the professional

ship management sector.

Also, significant discoveries were made pertaining to required share of the world fleet the third-party

ship management sector needs to manage to be regarded as successful.

This piece of work sheds more knowledge on the strategies undertaken by the ship managers and the

lapses of such business strategies being implemented.

A survey research design was used and primary data was collected through a well-structured

questionnaire. The survey was taken by decision makers (top management staff) of third-party ship

management companies who answered both open and closed ended question so as to allow for

specificity and flexibility where needed.

The results showed that the sector had developed over the years but could due to certain customer

relationship reasons, the ship management sector has not reached its full potential in terms of the share

of the world fleet it currently managed. It was also discovered that the number of fleet will grow and

this paper proposed strategies to help companies become more competitive and attractive to clients

(ship owners).

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Strategic Overview of Third Party Ship Management: Key Success Factors

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