• Proceedings of the Korea Port Economic Association Conference
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• 2006.08a
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• pp.277-290
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• 2006

A shipping operation broadly breaks down into: the acquisition of the ship, securing income from the ships, operating the ships, and running the business. For all ships these functions have to be performed. But most important thing is whether it is a better option for some or all these activities to be undertaken by a third party manager rather than resource them in-house or not. However, the size of ship management market has been increasing continuously over the last decades to achieve cost-savings. The ship management is considered as creating high added value and contributing to national economic growth. This paper will analyzes development trends of ship management and market, and carry out comparative studies with Korean ship management companies and an empirical studies on selection criteria of ship management firms. In doing so, some implications and alternatives will be suggested in order for Korean ship management companies to create high added value and gain international competitive edge.