Business Management

Overview You are to take the role of a ship or yacht manager. You must produce a professional business proposal to a new ship or yacht owner outlining why he/she should place the management of their owned vessels with your management company. Word count is 4000, not including spreadsheets and financial information. Detailed guidance To run a successful shipping, or yacht chart company you need three things. 1. The phone number of a good bank 2. The phone number of a good broker 3. The phone number of a good ship/yacht manager In reality that is all! You are to take the role of the ship or yacht manager. You have received an approach from a new ship or yacht owner. A rich investor with little knowledge of the legal and financial implications of running a successful shipping or yacht charter company. They would like full information from you on how you would approach this challenge. In essence : “I have a ship/yacht – I want you to run it for me” What is your response? The vessel can be of your choosing, but must be over 500GT for a merchant vessel or if a yacht is chosen in excess of 24 metres. produce a business proposal for the owner with significant detail regarding (but not limited to) the following : • How you intend to manage the technical aspects of his vessel. • How you intended to manage the crewing on the vessel • You must outline in detail how you intend to organise your management to ensure compliance with all necessary regulatory requirements. • How do you intend to carry out the planned maintenance programme. Do you have a proprietary PMP in place. If so which one and why? • The maintenance and drydock schedule for the vessel • The insurances for the vessel and with whom you expect to place the P&I insurance with, and why? • Which classification society is chosen and why • A detailed budget for the vessel, including a total and per diem budget figure • Your management fee, and how this is justified • Outline your contingency response plan to ensure that if the worst happens the owners interests are protected.