Discuss and explain in details, together with your own clear, specific, and generic diagrammatic framework and its main and important elements therein, to demonstrate how the separation of the two roles of ‘owner/investor’ and ‘operator’ can help shipowners and managers form ‘special purpose vehicle’ to effectuate the deployment of ‘off-balance-sheet financing’ on the one hand and cash-in owned ships while maintaining operational control of the ships on the other.