This title was first published in 2001. Professional ship management represents a structural change in the maritime industry - there was a period when ships were managed by their owners. The strides towards growth and the importance of ship management have been recognized since the early 1970s. Large ship management companies can offer benefits to their clients that culminate in the improved efficiency of the shipping market at large. Efficiency arises from the effective use of resources so as to produce the maximum output with the least input. Large shipping management firms can do this because they can reduce average costs by virtue of their size, as well as maintaining effective organization of resources by virtue of their professionalism. This volume emanates from research carried out over a seven year period (1993-2000) and aims to address contemporary issues and future developments in professional ship management. It covers issues of growth, expansion and profitability. The book looks at principles of marketing and strategy within the context of shipping management. The chapters provide an overview of the shipping management industry, and cover marketing practices, the application of relationship marketing, competition and strategy.