TITLE:
Plan the Business of a Vessel of a Tramp Shipping Company
AUTHORS:
Alexandros M. Goulielmos
KEYWORDS:
Shipping, Budget, Depression Plan, Minimize Vessel’s Cost, Revenue, Planning, Management by Objectives (MbO), Optimal MbO, Management by Looking at
JOURNAL NAME:
Modern Economy,
Vol.10 No.6,
June
30,
2019
ABSTRACT:
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…