Enter the Exciting World of a Ship Broker
There are many exciting off-shore careers in the shipping industry, and one of the more interesting perhaps is ship brokering. The life of a Ship Broker is fast-paced, dynamic, demanding and requires a high level of dedication to the work in hand in order to succeed.
As a Ship Broker, your responsibilities will vary according to the particular sector of the industry you choose: there are significant differences between tanker or container brokering, vessel sales and purchases, dry cargo brokering, liner and port agencies, or ship management. You may be employed by shipping companies as an in-house broker or by a ship brokering firm. Your core duties will almost certainly include the following:
• Marketing of ships to charterers
• Negotiating cargo rates between ship owners and charterers
• Arranging the transport of goods and commodities by ocean vessels
• Handling the purchase and/or selling of vessels. (In this capacity you will serve as the chief negotiator between the parties to bring about a favorable deal including: negotiating the terms of the contract, finalizing the details and seeing the sale or purchase through to conclusion).
Ship brokering requires that you immerse yourself in the financial trends of the shipping market, including shipping rates, commodities prices, global economic conditions, etc. – as you will be providing your clients with up-to-date market analyses and making recommendations based upon certain assumptions. Your clients will look to you to find the most attractive opportunities to maximize their profits.
What education and skills do you need?
To be a Ship Broker you need an undergraduate degree in either Maritime Studies, Shipping, Business, Economics or Logistics. For instance, a Bachelor of Science in Maritime Studies with an emphasis on business would be an excellent educational foundation for the launching of your career.
A successful Ship Broker must also be a good negotiator. You’ll need to be very comfortable dealing with a wide variety of people and have an ability to influence them. Finally, you must be willing to work long hours, in and among multiple time zones, with extensive travel due to the global nature of the shipping industry. If your love for ocean travel is matched by the kick you get out of seeing your hard work turn into closed deals and big business, this might just be the perfect career for you!