21Nov2017Headlines:

Ownership of Shipping Companies

Who own shipping companies? Shipping companies are owned by a variety of different people. It is not like shipping industry has special constraints towards ownership of shipping company rights but a good understanding of shipping could help when starting a shipping company.

Just like the normal business ownership of shipping companies and vessels are also owned by people of different business people that are at different financial levels. Domestic shipping companies are usually smaller and work within the country waters where as international companies occupy the international waters. This occupation of different levels of the business also doesn’t have any restrictions of ownership. If the business man can afford to buy the vessel capable of sailing international water than he is free to do so as long as he follows the IMO rules concerning safety and pollution prevention.

Domestic shipping companies

These are very common in many nations bordering the sea or ocean, at the coast or harbor towns. They are usually smaller vessels and are used for many different jobs. They can be fishing vessels, ferries, or cargo carrier but they normally are small in size. They have restricted mobility and usually do not travel land distances from their origin. They are also used to transport cargo from ultra large crude carriers (ULCCs) or huge cargo carriers that cannot enter the harbors. The downing task of moving the cargo from the vessel to the harbor is taken over by these smaller vessels and barges. These small companies are also used to transport cargo along the coastal towns and cities and some also are contracted to shipping to neighboring countries too.

There is now limitation as I sail earlier and one country could have several vessels some plying the domestic routes while other the international. These companies are usually owned by individuals or small partnerships, which have been in the shipping business for generations with few new adventurous entrepreneurs venturing in the shipping industry.

International shipping companies

These are also well established organizations that have been in the shipping industry for decades and are owned by multimillionaires. They usually have well organized personnel and managers who run the organist ion. Since their operations are international and they have far more vessels sailing than domestic shipping companies, there infrastructure is very advanced. Some of these companies are public organizations meaning their shares can be bought by the public but the majority of their share holding remains in private hands.

These are the shipping companies that are responsible for transporting most of the cargo in the international trade. They transport food, oil and many other manufactured goods from nation to nation and constitute to a large percentage of cargo transported around the world.

With shipping companies growing and more vessels required to transport more and more cargo, there is more chance that you will be seeing more ships at the harbor and now the next time you see that huge vessel drifting in to the harbor or out in the deep sea, you will have an idea of the kind of people that own shipping companies.

 

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