Shipowners changed in recent years. A few decades ago, shipowners were real people who had paid for the ship. Shipowners order ships to carry charterers’ cargoes to specific geographical areas. If shipowners are successful, they would order to construct more ships. Eventually, shipowners would have a fleet of ships. Shipowners would have the crews which are employed directly by the company and crews would be a career path for those that remained with the shipping company.
However, in these days, a shipowner may be a bank, a hedge fund manager or other type of investors in in shipping business. This type of shipowners might have no shipping knowledge or experience. In many cases, these investors who own the ships have no expertise in shipping. In such cases, these investors need find a good ship management company and it is extremely important to ensure that there is a return on their investment. A shipowner may manage and operate the entire company or sub-contract parts of organization to third party ship management company. In some cases, a shipowner may be a financial institution who may sub-contract the ownership of the ship by bareboat charter.