Ship owners, the word itself gives the meaning of what ship owner is. In the dictionary form, ship owner means, the owner of a merchant vessel . In the business terms, a ship owner is someone who furnishes and rules a ship, usually for delivering cargo for a particular freight rate. Fright rate is the given price for the transport of a certain cargo between two given ports. However in the ancient times fright services would not be included in the meaning of ship owners as at those times there was no such thing as a certain name for the prices charged.
Mostly Ship-owners hire a licensed crew and captain to run the ship on waters, rather than running it himself. Unlike the times of our ancestors, ship owners are now referred as organizations or association handling investments that are achieved in the business. If owned by a ship company, the ship owner usually performs technical management of the vessel through the company, though this can also be outsourced or relayed onto the shipper through bare boat charter.
In the industry of shipping, almost every country that owns a shipping market seems to have an association related and conducted through the shipping markets. These associations have several companies that involves in the shipping process. In addition to this, these companies have particular motives to come together as an association.
Some activities conducted by such ship owner associations are as followed: Associations arrange forums in which members are able to meet and discuss issues of concern, informs the membership of important changes in the shipping environment through educational seminars and circulars, and represents the interests of members in national and international committees. Further the main motive to arrange ship owner associations are to promote and protect the interests of the particular locations domiciled ship owners and ship managers as well as the increasing number of local professions and services.