Ownership

- The Ownership feature is available with the Enterprise, and Fleet Management Solutions Plans-

The Ownerships feature provides users with access to vital ownership details, including beneficial and registered owner information, as well as commercial, technical, and ISM manager details. Additionally, users can explore data regarding ship and engine builders, classification, financial owner, and P&I club affiliations. You are also able to find the Address, Country and contact information across each Vessel management structure.

Within this feature, users can access a breakdown of the Management Structured tree diagram, along with definitions of each ownership or managerial layer and entity below. This allows for a comprehensive understanding of the hierarchical structure and relationships within the ownership and management of vessels.

Vessel management structure

- Beneficial owner: The entity that has beneficial ownership of a vessel. The owner may either directly own the ship or control it through a subsidiary company or a financial organisation. The owner is responsible for granting effective control of the vessel and may either manage it directly or appoint a third party to do so. In the case of a Group Beneficial Owner, it is the parent company of the Registered Owner and has the ultimate beneficiary of ownership. It may or may not directly own ships, but it controls its fleet and may manage it through subsidiary companies or third-party contracts. In certain shipping contexts, the lessee company may also serve as the Group Beneficial Owner, Commercial Manager, or Commercial Operator of the vessel.

- Registered owner: The entity that holds the legal title of ownership of a vessel as documented in its registration papers. This entity may be a Single Purpose Company, a subsidiary of a larger shipping group, or a bank. The flag state where the ship is registered may require the legal owner to be a company registered in that country.

- Commercial manager / Disponent owner: The entity appointed by the ship owner or charterer to handle all financial matters pertaining to the operation of the ship. This includes the day-to-day commercial running of the ship. This company may be an owner-related company or a third-party manager whose purpose is primarily the management of ships for their ship-owning clients.

- Third-party operator/Independent operator/Charterer: The entity which uses a ship and is currently employing it within its ship program. These rights are transferred by a voyage or time chartered contract

- Technical Manager: The entity appointed by the ship owner or operator to handle all technical matters pertaining to the operation and maintenance of the ship. This includes managing the crew, arranging surveys and dry-dockings, maintaining the ship’s equipment, and ensuring that the ship is in compliance with safety regulations. In most cases, the Technical Manager is also responsible for purchases related to the ship, such as repairs, spare parts, and is designated as the company responsible for the technical operation and technical superintendency of the ship.

- ISM Manager: The entity, which may be the owner, manager, or bareboat charterer of a ship, responsible for ensuring compliance with the International Safety Management (ISM) Code adopted by the International Maritime Organisation (IMO). This includes upholding safety measures and preventing pollution as mandated by the Code, and is indicated by holding both a Document of Compliance (DOC) and a Safety Management Certificate (SMC) issued by the flag Administration, or audited by a classification society or other Responsible Organisation. Typically, the ISM Manager also assumes responsibility for the technical management of the ship.

 

Furthermore, you will be informed on any other company vessel relationship as indicated by Classification Societies, for instance:

- Ship Builder: The entity responsible for constructing the vessel according to the design specifications provided by the owner or designer, and ensuring that the vessel meets all applicable regulations and standards.

- Engine Builder: The entity responsible for designing, manufacturing, and installing the vessel's engines and propulsion systems, ensuring that they meet the performance requirements and specifications provided by the owner or designer.

- Class Society: The entity that provides classification and certification services for vessels, including verifying that the vessel's design, construction, and maintenance meet established standards and regulations, and issuing certificates attesting to the vessel's seaworthiness and compliance with applicable rules and regulations.

- Financial Owner :The entity that owns a ship when it's leased from a financial leasing company. The leasing company may rent the ship to another company through a "bareboat charter," where the renting company (the lessee) operates the ship and pays a fee to use it. The financial owner doesn't usually get involved in day-to-day operations, and only steps in if the lessee fails to fulfill their contract.

- P&I Club: An insurance association providing coverage for third-party liabilities not typically covered by hull and machinery insurance. P&I Clubs operate on a mutual basis, pooling funds from members to cover a range of risks, including injury, pollution, collision, and legal expenses.