IPA: /ˈʃɪpˌoʊnər/
KK: /ˈʃɪpˌoʊnər/
A person or company that owns a ship.
The shipowner decided to invest in a new cargo vessel.
Shipowner → It is formed from "ship" (from Old English *scip*, meaning a vessel for traveling on water) and "owner" (from Old English *agan*, meaning to possess). The word "shipowner" refers to a person who possesses or owns a ship.
Think of someone who 'possesses' ('owner') a 'vessel for traveling on water' ('ship') — that's what a shipowner is.