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Old 21-07-2014, 07:14 PM
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Quote:
Originally Posted by potential shipbroker View Post
Any one knows on the prospects of being a shipbroker?

1) Career progression
2) Salary progression
3) qualities needed to excel
4) Future of ship brokering
5) best shipbrokerage to work in
6) a comparison of charterer and shipbroker
I'm currently working as a chartering broker for tankers. Started with zero shipping background. Joined as a trainee abt 3 yrs back, and am now a shipbroker. Maybe can answer your questions below:

1) In terms of hierarchy, it is rather flat. You will start as a trainee probably doing operations first for at least a year. From there, depending how good you, you may move to do chartering. Most brokers dont really care abt titles or career progression, as end of the day its the money that counts

2) Trainees start approx $3k. From there you move to junior broker, abt 4-6k. Fully fledged shipbrokers can earn anything from 6k - 30k per mth, before bonuses. Again this depends on how much money you can bring in for the company. General rule of thumb is you need to bring in at least 3 times your salary cost.

3) Qualities needed are thick skin, cos you will likely get alot of flak from both owners and charterers. Also be able to think quick on your feet, and be able to remember off hand where your vsls and cgo are and dates, so you can quickly connect the dots. Also have good interpersonal skills to be able to deal with various types of ppl.

4) At the moment, shipbroking still here to stay I feel, because there are still alot of owners/chtrs who prefer to use a broker, for the added service the brokers provide eg operational matters, if vsl run late, broker will try find replacement vsl etc. Can help them find out whether owners are being honest with their vsl itinerary etc, all these matters which they dont have time to handle themselves.

5) Various firms around. Some are stronger in drybulk, some tankers, so chemicals etc...so hard to comment. Very mush it is up to the individual broker. If you can retain your client base who supports you, it doesnt really matter which brokerage you work in.

6) A charterer is the person who has the cargo, and is looking to charter a vsl to move his cargo. A shipbroker, or chartering broker is the person who will try and find a suitable vsl for the charterers.

Hope this helps
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