Risk Management in Shipping

Every organisation faces risk and must balance its attitude towards risk and reward. The key question is: ‘What is the acceptable risk?’
High-risk ventures may collapse, yet they can also deliver the biggest reward. Conversely, fewer, safer and more conservative risks within an organisation may mean modest returns but long-term survival. Risk Management in Shipping report examines the major risk sectors and recommends potential methods for best practice.
Key issues of Risk Management in Shipping
*Best practice – focus on a risk management system in a shipping company
*Risk – the exposure and the uncertainty
*Understanding risk appetite and how it shapes management strategy
*Quantitative and qualitative elements in risk management evaluation and strategy
*Ship ownership and strategic risks
*Risks to the vessel, people and systems
*Corporate risks
*On multi-levels/Multi-layered
*Take account of the ‘big picture’
*Take account of day-to-day operations
Source: http://www.prlog.org/10085397-risk-management-in-shipping.html