Third party ship management is a highly competitive business where tight margins are increasingly squeezed by the demands of principals. According to Kishore Rajvanshy, managing director, Fleet Management Ltd., Wanchai, Hong Kong, it is imperative that ship managers ensure that there are no periods of offhire for the fleets they manage. He believes the ability for ship managers to achieve such a goal is difficult in the current market where charter rates are exorbitant and budgets for operating expenses are getting relatively tight.
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