These are important financial services performed in the maritime business, ship Brokers act as intermediaries or agents to hire or lease ships from their owners. In the maritime business, hiring and leasing process is called ship chartering, the two sides that negotiate charter agreements, most ship-owners do not operate their own vessels so ship charterers are an important part of the maritime business. There are various type of Chartering but the most common types are voyage chartering, and time chartering. Ship charterers plan the details of voyages i.e everything that ensures the safe loading and discharging of the goods and also the safety of the ship and its crew.
Ship Broker
A ship broker is someone who is in charge of the transport goods by sea and the buying and selling of ships on behalf of its clients. Ship brokers act as middlemen between the ship-owners and the person who wants their cargo freighted by that ship; they also deal with the fine details of the transaction during the buying and selling of ships, ensuring that both buyer and seller get a fair price from the transaction. They draw up the contract and take care of all other legal matters relating to the transaction. They usually have legal qualifications and extensive experience that have been built over several years of on the job training. Acting as an intermediary, a Ship Broker negotiates and attempts to seal a deal between ship-owners and charterers or the buyers and sellers of ships in return for a commission payment; brokers in the buying and selling sector generally see less business than their counterparts in chartering but they get higher commissions.
What does a ship broker do?
Ship broking covers many disciplines: sale and purchase, dry cargo brokering, tanker brokering or container brokering but most brokers prefer to specialize in one area. The roles of a ship broker includes: marketing of ships to customers/shippers/charterers, negotiating spot/time charters to achieve maximum income for the owners. Maintaining records or tonnage within the company’s database. Setting up and negotiating deals, including presenting businesses to potential clients, negotiating the main terms of a contract or sale and seeing it through to its conclusion. Building up a database of contacts and keep a close eye on the shipping market, interpreting trends and seeing opportunities for clients.
Ship Brokers Salary
While ship brokers usually earn a monthly salary, most of their gains come from sales commissions. In USA ,The salary for a beginning ship broker is $2,500 to $3,000 per month; according to the jobs website Indeed, the average annual salary of ship broker as of 2014 was $102,000. In Nigeria the average salary for Ship Brokers is 157,500 Naira. HENDIAC NIGERIA LIMITED is a ship agency, crew change, Ship Chandler, Marine Inspection and Survey. We Supply all items requested by vessels, this enables us to fulfill the balance of the equation “high quality.
Dry Cargo Broking
This is a specialized part of ship broking, dry cargo Brokers deal with the chartering of bulk carriers for a ship owner or charterer who wants to ship a cargo. A dry cargo broker must have a great understanding of international shipping and the direction of markets; and must have a large database of vessel positions, cargoes and rates. They advise clients on how to get maximum profit from their vessels while keeping expenses to the minimum. A Dry Cargo Broker has to develop business relationships and build a database of contacts. Dry cargo brokers work as part of teams in niche markets and must be able to adapt and respond to market changes quickly. They charter bulk carriers or containers on behalf of the client and negotiate the deal from start to finish and to also follow-up as well
Tanker Broking
Brokers that specialize in the chartering of tankers are called tanker brokers and require a different skillset, knowledge and contacts from dry cargo broking. They may specialize in crude oil, gas, oil products or chemical tankers. They negotiate contracts known as charter parties, which consists mainly of freight and hire demurrage. Tanker brokers negotiate the best possible rate for clients and present proposals showing how prices have been achieved and the client’s share of the profit. Tanker Brokers may also act as consultants, offering clients advice on proposed shipping ventures, investment opportunities and market trends. They deal with Spot and/or time charters, crude oil, chemical tankers and gas tankers. They also coordinate tanker chartering and operations departments ensuring maximum space utilization of a vessel, number of port calls and ensure the voyage financial results are as predicted and they negotiate all contracts.
Container Vessel Brokering
This is an aspect of ship broking where brokers specialize in the chartering of container ships and providing container ship-owners and charterers with market related info and opportunities.
Consignee
The receiver or owner of a consignment is called the consignee. The ownership of a consignment is transferred when payment has been made to the consignor by the consignee. The person that receives goods from the consignor is always referred to as the consignee whether he is the buyer or receiving the good to resell.
Consignor
A consignor is the sender of goods. When a consignment is sent by a manufacturer or retailer to a buyer through their agents in another location, the sender is called the consignor, the document drawn by the carrier enters the name of the sender as the consignor.
Ship Brokers Association
Ship brokers associations exist in almost every country where ship broking services are performed. In 2011 the association of ship brokers and consultants (ASBC) joined the league of maritime trade groups to standardize the modus operandi of the ship brokerage sub-sector in the Nigerian maritime industry.
Ship Mortgage
This the pledging and charge upon a title of a ship and its machinery as security for a loan; the ship owner grants a lender an interest in a ship as security for a loan, it is similar to other types of mortgage, it consists of the mortgage loan, mortgage document and the mortgage rights granted to the money lender. Ship mortgages are a common way of financing the construction or purchase of a ship, it provides the lender with security for the repayment of a loan or the fulfilment of any other obligation by the acquisition of a property interest in thr ship and it has been a widely accepted practice in the shipping industry since the 19th century.
Ship Registration
This is the process of documenting a ship, the ship assumes the nationality of the country it is documented to; this documentation allow a ship to travel internationally. International shipping laws state that every ship must be documented to a country which is called its flag state; a ship sails under the laws of its flag state. Every vessel is regulated by its flag state, the flag state takes charge of regular inspection, equipment and crew certification, issuing safety and pollution prevention documents. Ships are registered to registries, which may be governmental or private agencies. A register that is open only to ships of its own nation is known as a national register. Registers that are open to foreign-owned ships are known as open registries and are sometimes called flags of convenience.
Top Ship Brokerage firms in the world
Some of the top ship broking firms in the world include:
Clarksons
RS Platou
Braemar Shipping Services
ICAP Shipping
SSY
Maersk Broker
Poten & Partners
Gibson
BRS
ACM Shipping
McQuilling Partners
Howe Robinson
Marine Survey Cargo Surveying Ullage Survey Calibration of Tanks/Meters Vessel Condition Survey Bunker Survey – Hatch Seal Inspection Custody Transfer Survey Draft Survey – Draft Survey of Cargo, Draft Survey of Vessels Vessel Damage Survey Measurement Survey Sealing/Unsealing Survey Marine Incident Investigation P & I Claims Investigation Holds Cleanliness Survey Pre-Purchase Survey Fuel Testing Petroleum Testing Discharge and loading supervision of cargo ship imports or exports. Insurance Survey, Delivery Inspection (Q-Terminal) Share on facebook Facebook Share on google Google+ Share on twitter Twitter Share on linkedin LinkedIn Share on pinterest Pinterest We are specialized in Complete Shipping services /Ship Management, Repairing, Ship Chandler, Ship Agency, Food Supplier, Lube oil Supplier, suppliers of Aceyelyne Gas, Oxygen, Freon Fresh Water Chartering/ broker Facebook-f Linkedin
