We described the procedure, and the importance, of the budget or plan of expenses (cost) of a vessel in a tramp shipping company, and also we addressed the difficulty to plan receipts (revenue). We analyzed the structure of a shipping company in departments and their particular role in spending and collecting money. Leaving, for a while, aside reality, we analyzed the true objective of a vessel, which is to minimize cost. Vessel’s half-square isoquant is presented as well her economies of scale. In fact, we revealed seven objectives for a vessel, the first being the rather meaningless in shipping one of maximizing normal profits. For the first time, we proposed planning for a maritime depression, described here as a common feature in shipping (one every 12 years). We have presented Management by Objectives and optimal management by objectives as future candidates for shipping companies. The main contribution of this paper is our attempt to modify the present: management by distance by future management by looking at…