A large tanker capable of transiting the canal fully loaded where there is a draft restriction of about 17metres Salt Water, increasing to 21 metres by 2010. (less than about 150,000 dwt). Capesize.  A bulk carrier too large to transit the Suez Canal and thus compelled to round the Cape of Good Hope (about 150,000 dwt upwards). VLCC.  A very large Crude Carrier – a crude oil tanker of between about 200,000 and 300,000 dwt. ULCC.  Ultra Large Crude Carrier – a crude oil tanker in excess of about 300,000 dwt. Measured on the cost per ton/mile basis, by far the cheapest form of transport is by sea.   It is also true that the larger the ship the cheaper the transportation cost per ton will be.  Therefore, the Shipowner will wish to acquire the largest possible ship to be able to reap the benefit of the economy of size. Against this are two restraints.  First, the owner will want a vessel which is as flexible as possible; able to enter and operate in as many ports as possible,  the vast majority of ports in the world have some kind of restriction which will curtail the dimension of vessels.  The second is that shippers of the cargo will, because of trade patterns, be only able to ship their cargoes in certain restricted sizes.  Thus, while a VLCC (a tanker of 250/300,000 dwt) might be the ideal article for shipping crude oil from Arabian Gulf to Rotterdam, it would be unlikely to be used for carrying oil from The Netherlands to Great Britain.  Likewise 7,000 TEU container vessels are employed on the Far East/Europe trade but not on intra Mediterranean routes. Consequently, a shipowner will wish to acquire the largest possible vessel commensurate with his projected trading pattern. So far we have examined some of the common ship types, we have reviewed ship sizes and have identified in broad terms the ways in which they may be employed.  These are all areas for decision by the shipowner.  Having reached a decision on type, size and trade, the owner must then consider how the ship will be managed.  The job of the ship manager is simple; to translate the owner’s ideas into reality, so that the vessel can perform the tasks set by the owner efficiently, safely and profitably.