Ship management refers to the process of overseeing the operation and maintenance of a vessel. This includes ensuring the ship is compliant with international regulations, managing the crew, and maintaining the ship's equipment and safety standards. Effective ship management is crucial for the safe and efficient operation of maritime transport. Additionally, ship management involves financial planning, budgeting, and cost control to ensure profitability. Companies often hire specialized ship management firms to handle these responsibilities, allowing ship owners to focus on their core business activities while ensuring their vessels are well-managed and compliant with industry standards.