Crossword Genius

Commanding shipowner compromised after call for peace (2,5)

Ross

I believe the answer is:

in power

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'commanding' is the definition.
(I've seen this in another clue)

I don't understand the rest of the clue.

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(Other definitions for in power that I've seen before include "Having charge or control" , "Being the government" .)

I've seen this clue in the Sydney Morning Herald.
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