We outsource the day-to-day technical management of our vessels to well-established ship managers with considerable expertise.
Strategic benefits for charterers and shareholders. Our outsourcing strategy allows us to accommodate the ship management preferences of our customers, while strengthening competitive benchmarking, effective cost control and risk management.
Expert ship management, closely supervised. The ship managers, closely supervised by us, manage crewing, ship maintenance and repair, vessel provisioning, and inspections, as well as ensuring compliance with flag, class and other statutory and regulatory requirements necessary to support our business. We are responsible for arranging hull and machinery insurance and protection and indemnity insurance for the vessels in our fleet. Together with the ship managers, we also arrange vessel dry dockings, which are typically required every five years.
Technical management of initial and contracted fleet. The ship management of most of our vessels on charter to CMA CGM is undertaken by CMA Ships. Other vessels, including those on charter to OOCL, are managed by alternate third party ship managers.
Capped operating costs. For most of the vessels chartered to CMA CGM and managed by CMA Ships, we have a cap arrangement for certain operating costs, further enhancing our ability to control costs. The cap covers most aspects of day-to-day technical management, excluding costs for insurances and deductibles, dry docking and exceptional items.