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Seeing how much hassle-free it was to have someone else run their staffing and management needs, shipping companies in the 80's started having third party ship management firms run their daily shipping operations. Also called as marine consultants, these ship management firms Singapore shipping companies use handle some, if not all, of their operational needs like bookkeeping, recruitment and even staff sourcing.
Shipping company owners get numerous benefits from a crewing agency in Singapore since these marine consultants carry a wide array of services and have numerous contacts from different parts of the world. Depending on the amount being paid, responsibilities like bookkeeping, compliance, seafarer recruitment and even technical and engineering support are entrusted to third party ship management companies. This often gives owners more time to handle other concerns like customer relations and to develop ship board and shore side operations while minimizing costs at the same time.
In the 1900s, a huge number of marine consultants and ship management companies started to emerge due not only to ship owners aiming to save money but also due to financial speculation in the industry. Sometime in the 80's and 90's, financial liberalization options opened up tons of opportunities for business-minded individuals to make short term and long term investments.
This included the shipping sector, which then saw speculators investing in an industry they knew very little about but nonetheless saw huge opportunities for making profits with the buying and reselling of vessels. This phenomenon is similar to a land-based trend called real-estate flipping, only this time, this was happening with ships. These businessmen then turned their newly-bought ships over to marine consultants for management and operational help, in exchange of a fee, that is.
This same procedure was also applied to the employment and recruitment of marine crew. With the help of new ideas and more lenient labor rules, shipboard workforce, deployment and recruitment of workers for the shipping sector has also been entrusted to these very same marine consultants. With the technological innovations and cost-cutting measures, crew reduction and the consolidation of activities onboard have also been put in place.
Shipping company owners get numerous benefits from a crewing agency in Singapore since these marine consultants carry a wide array of services and have numerous contacts from different parts of the world. Depending on the amount being paid, responsibilities like bookkeeping, compliance, seafarer recruitment and even technical and engineering support are entrusted to third party ship management companies. This often gives owners more time to handle other concerns like customer relations and to develop ship board and shore side operations while minimizing costs at the same time.
In the 1900s, a huge number of marine consultants and ship management companies started to emerge due not only to ship owners aiming to save money but also due to financial speculation in the industry. Sometime in the 80's and 90's, financial liberalization options opened up tons of opportunities for business-minded individuals to make short term and long term investments.
This included the shipping sector, which then saw speculators investing in an industry they knew very little about but nonetheless saw huge opportunities for making profits with the buying and reselling of vessels. This phenomenon is similar to a land-based trend called real-estate flipping, only this time, this was happening with ships. These businessmen then turned their newly-bought ships over to marine consultants for management and operational help, in exchange of a fee, that is.
This same procedure was also applied to the employment and recruitment of marine crew. With the help of new ideas and more lenient labor rules, shipboard workforce, deployment and recruitment of workers for the shipping sector has also been entrusted to these very same marine consultants. With the technological innovations and cost-cutting measures, crew reduction and the consolidation of activities onboard have also been put in place.
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Related articles on Marine consultants or visit www.amoe.com.sg. This article, Singapore Marine Consultancy Services is available for free reprint.
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