What is Managing Owner Of Ship?

Legal Definition
The managing owner of a ship is one of several co-owners, to whom the others, or those of them who join in the adventure, have delegated the management of the ship. He has authority to do all things usual and necessary in the management of the ship and the delivery of the cargo, to enable her to prosecute her voyage and earn freight, with the right to appoint an agent for the purpose. 6 Q. B. Div. 93; Sweet.
-- Black's Law Dictionary
Legal Definition
One of the owners who acts as manager for them all.
-- Ballentine's Law Dictionary