This includes the narrow technical management of ships, registration of vessels, operations, service, technical maintenance, as well as management of crew, among other. It can also include the business and commercial management of a vessel, such as its chartering and financial administration.When a ship is purchased for importing and exporting goods, a ship management team is required to maintain and operate the vessels. The function of the management team is to provide the owner with support throughout the occupancy or charter of the vessel. Vessels can range in sizes and function.

Chartering is an activity within the shipping industry. In some cases a charterer may own cargo and employ a ship-broker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China) or alternatively may be expressed in terms of a total sum normally in U.S. dollars per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit in a rising market by re-letting the ship out to other charterers.

Chartering is an activity within the shipping industry. In some cases a charterer may own cargo and employ a ship-broker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China) or alternatively may be expressed in terms of a total sum � normally in U.S. dollars per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit in a rising market by re-letting the ship out to other charterers.