The main reason behind the development of the International Safety Management Code was a series of tragic maritime accidents at the end of the twentieth century caused by human error. The ISM Code has introduced a brand new instrument, the safety management system (SMS), to the set of already existing legal devices, established to ensure safety during ship operation. Properly applied and implemented within the shipping company, SMS can be an advantage that will not only result in a measurable increase in the level of safety, but will also result in cost optimization and an increase in the company’s reputation. However, if an SMS is conceived without commitment and conviction on the part of the management, it will be only an empty and façade, bureaucratic procedure that will not only fail its purpose, but will also only be an additional burden for all staff. The following article will present the characteristics of SMS and its impact both on the broadly understood safety in the shipping company, and including vessels in its fleet, moreover the requirement of the efficiency of SMS procedures specified in shipboard manual for each vessel will be emphasized, which is the need to create a new safety culture.