Shipowning activities require three separate types of management: (1) the shipowning function, which is that of an investment manager and includes the selection, purchase, financing and sale of vessels and overall supervision of both chartering and vessel technical management; (2) the chartering and market operations function, which involves obtaining and performing employment of the vessels; and (3) the vessel technical management function, which encompasses the day to day physical maintenance, operation and crewing of the vessels.