Shipboard Management
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Agency
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Introduction
As the era of deep-sea maritime trade was blooming in the nineteenth century, it became commercially essential that the investors be persuaded that their money was in safe hands – or at least, as safe as possible under the circumstances of all the risks that stalked the opportunities for profit. With no established communication, and few trustworthy businessmen in the far-flung loading ports where cargoes had to be negotiated, the venturers had to place their trust in somebody to protect their interests, and the Master was the most reliable man on the spot. If his ship were arrested, he had to secure her release. If supplies ran out or gear was lost or broken, he had to arrange for their replacement, and raise the necessary funds if need be.1 Besides, the Master often had a financial stake in the adventure himself. Slowly, but with undeniable logic, the Master's contractual relationship was developing into partner, employee, and Agent.