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Costs for personnel, fuel, upkeep, and ship surveys have significantly increased during the last ten years. New tonnage has become significantly more expensive to provide at the same time. But because the gap between expenditure and revenue has not been narrowed, tariffs and fixture rates have not kept up. As a result, in order to operate successfully, ship owners must minimize costs. The importance of numerous strategies for accomplishing this goal has been emphasized throughout the book. These include enhancing vessel design and use, taking advantage of economies of scale, raising crew productivity, cutting fuel consumption, and lowering maintenance costs. The possibility of shipboard management is another option available to them. The Shipboard management represents a novel way to operate a ship. The goal is to simply give the officers on board complete control over the ship's economic operations, with the shore-based organization solely providing backup services. The master serves as managing director and the ship essentially transforms into a "floating" subsidiary company. He is allowed to work with his group under predetermined financial constraints, and they are in charge of bringing in a predetermined amount of money. Any type of merchant vessel can use the method, and it will undoubtedly be used more frequently around the world, but especially in nations with high crew wages and/or staffing levels. A system of shipboard management cannot function effectively unless the following conditions are met. A temporary crew is not acceptable; the vessel must have a permanent crew. By using multiple peer-reviewing steps based on shipboard management and other expertise, this article's textual contribution will be improved.