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Q.
What is a shipbroker?
A. A shipbroker is someone who arranges the ocean transport of goods and commodities by sea, the employment of a vessel or buys and sells ships on behalf of his clients.
Q. What do they do?
A. Shipbrokers act as intermediaries between shipowners and charterers or the buyers and sellers of ships. The broker is involved in many stages of a deal: presenting the business to potential clients, negotiating the main terms of a contract or sale, finalising the details of the contract and following the deal through to its conclusion. Increasingly shipbrokers also provide their clients with a wide range of market intelligence and advice.
A junior broker would be expected to be extremely flexible in terms of his or her job description - typically no formal training is given and experience is gained "on the job". Tasks might include: entering tonnage into the company's database; assisting the operations (or "post-fixture") department to get an understanding of the more technical nature of shipping; checking through charter parties (the legal contracts for any fixture); as well as starting to build his or her own contacts within the shipping world.
A successful shipbroker will have built up a network of contacts around the world - shipping is an industry based very much upon relationships and therefore it is essential that anybody entering the profession has an ability to get on with people from a variety of backgrounds. Shipbroking is highly competitive and there are far more shipbrokers than shipowners or charterers in the world - any trainee will need a strong commercial sense, be able to think on their feet and offer sound constructive advice to their clients.
Shipbroking is an intensive career choice - the hours are long and brokers are expected to be available "24/7". Typically the day will start early in the morning in time to catch to important Far Eastern markets and continue until the evening - some weekend work is usually expected if clients are based in a country where this is the norm.
Q. Do I need qualifications?
A. New entrants to the ship-broking industry do not need a shipping qualification, but there are shipping business degree courses run by several British universities. The Institute of Chartered Shipbrokers offers professional qualifications and the Baltic Exchange also runs a number of practical shipbroking courses.
Q. Where are the jobs?
A.
Many shipbrokers are based in and around London. It is estimated that London's 700 shipbroking companies - many of them small businesses - account for 50 per cent of all tanker and 30-40 per cent of dry bulk chartering business.
Hong Kong, Singapore,
Shanghai, Tokyo,
Seoul,
New York, Vancouver,
Athens, Hamburg,
Copenhagen and Oslo are also important centres of
shipbroking.
Q. Is it well-paid?
A. Shipbroking is a demanding and often stressful career, but the rewards can be high for the successful broker. Shipbrokers generally earn a low to medium basic salary with bonuses for good performance.
Q. How do I become a shipbroker?
A. Companies rarely advertise for entrant positions in to the industry but some of the larger firms do recruit graduate trainees or school leavers. Contact details for some of the larger London firms are listed below:
Louise
Scott
Howe Robinson & Co Ltd
Mint House 77
Mansell Street
London E1 8AF
www.howerobinson.com
Orla
Friel
HR Manager
Clarksons
St Magnus House
3 Lower Thames Street
London EC3R 6HE
www.clarksons.com
Simpson
Spence & Young Ltd
Lloyd's Chambers
1 Portsoken Street
London E1 8PH
www.ssyonline.com
Human
Resources Director
Gibson Shipbrokers Ltd
PO Box 278
Audrey House
16-20 Ely Place
London EC1P 1HP
www.eagibson.co.uk
Human
Resources Manager
Galbraiths Ltd
Bridgegate House
124-126 Borough High Street
London SE1 1BL
www.galbraiths.co.uk
jobs@galbraiths.co.uk
International
Shipbrokers Ltd
65 Leadenhall Street
London
EC3A 2AD
Tel:
+44 (0) 20 7680 0068
Fax: +44 (0) 20 7680 9702
Email: chartering@inshibrok.co.uk
Fundamentals of Ship Sale & Purchase training course by distance learning
- Programme Overview for this introduction to vessel S&P training course
For Anyone Interested in the Negotiation, Preparation and Completion of Buying and Selling Ships
This comprehensive course on the S&P of second hand tonnage is an opportunity to gain a valuable insight into the complexities of the topic and to gain an understanding of the processes.
Through this distance learning training course you will develop a balanced knowledge and understanding of ship sale and purchase including the commercial aspects to enable effective negotiation and the processes and the legal framework. It is written to provide maximum relevancy and deliver a thorough understanding of the roles of the parties in conducting ship sale and purchase transactions.
Download the latest Fundamentals of Ship Sale & Purchase training course brochure by clicking here.
Course Programme
Introduction to Ship Sale & Purchase, Parties, Roles and Contract Forms
The Shipbroker and Formation of the Contract in Sale and Purchase
The Memorandum of Agreement Part I: Details, Descriptions, Price and Delivery
The Memorandum of Agreement Part II: Delivery Process, Documentation and Condition
The Memorandum of Agreement Part III: Other Terms and Ship Recycling
Performance Guarantees, Default, Remedies and Arbitration
Fundamentals of Ship Sale and Purchase is validated by the Institute of Chartered Shipbrokers and successful participants will be exempted from the ICS Introduction to Shipping subject.
Lloyds
Maritime Academy - ship sale and purchase distance learning
Marine
& Boat Insurance Providers Table
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Company
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Type
of Insurance
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Website
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24
hour dinghy insurance
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Dinghy
& Sailboard Insurance Immediate insurance
premiums displayed by clicking onto the class
of craft.
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24
hour dinghy insurance
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ABG
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We've
teamed up with Boatinsure.co.uk to provide our
clients with a competitive online marine
quote: DINGHY, SPEED BOAT, SMALL YACHT, CABIN
CRUISER.
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ABG
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Affinity
Insurance Brokers
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Official
Brokers to the Irish Sailing Association.
Affinity Insurance Brokers, the premier source
for insurance coverage and risk management
advice for Ireland's sailing and fishing
communities.
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Affinity
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Amilcroft
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Cargo
INSURANCE. Take advantage of capacity and
services through the London market and other
specialist insurers. Our arrangements include
insurers able to write surplus lines in most
of North America.
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Amilcroft
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Arden
Insurance
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Arden
Insurance Services are able to arrange cover
on all craft from the smallest of dinghies to
the largest ocean going vessels. Discounts are
also available for: RYA Qualifications, Policy
excesses up to 1,000GBP, Craft in Marina
Berths, Craft with alarms. Many of our
standard policies include: Third Party
Liability up to 2,000,000GBP, 12 Months in
commission cover, Underwater Machinery Damage,
Protected No Claims Bonus, Road Transit Cover,
Legal Protection Cover.
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Arden
Insurance
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Edwards
& Associates
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We
offer marine insurance to cover pleasure boats
such as yachts and cabin cruisers, as well as
larger private boats. Whether you are looking
for personal or commercial marine insurance,
we have a large base of insurers who we use to
make sure that you get the best possible deal:
Personal and Commercial Marine Insurance.
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Edwards
& Associates
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BC-Marine
Inurance
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Set
the right course to solve your Marine
Insurance Requirements. Marine Craft
Insurance, Legal Protection, Foreign Travel,
Boat SalesAccident & Medical, Loss Of
Earnings, Marine Finance, Marine Tradesmen,
Crew Liability, Instalment Plans, Boat
Builders & Repairers, Public Liability,
Recovery & Assistance, Product Liability.
UK, Ireland, Scotland, Wales & the EU.
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BC-Marine
Inurance
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Bishops
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We
have particular expertise in the following:
International Marine, Cargo, Inland Goods in
Transit, Hauliers Liability, Freight
Forwarders Liability.
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Bishops
plc
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Alfred
Blackmore
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Alfred
Blackmore Group Ltd UK insurance broker
specialising in bloodstock, classic car,
construction, financial services, healthcare,
international motor, marine, professional
indemnity, reinsurance and special accident.
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Alfred
Blackmore
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Blythin
& Brown
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Loughborough
brokers provide online quotes for marine
insurance, and also offer a full range of
financial advice.
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Blythin
& Brown
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Boatinsure
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Marine
insurance underwritten by Lloyd's of London.
Discover what is covered by the policies, read
the FAQs, get an online quote or claim online.
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Boatinsure
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Business.Insurance-Site.co.uk
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Covers
most commercial risks in the following
industries: manufacture, motor trade, haulage
supply, farms, shops, offices, clubs, pubs,
hotels and marine (ONLINE APPLICATION FORM).
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Business.Insurance-Site.co.uk
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Craftinsure
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German
marine insurer provides boat-insurance
services throughout Europe. Select a boat
type, get a quick quote, and track a claim.
20% internet purchase discount.
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Craftinsure
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Newton
Crum
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Dinghy
- Narrowboat - Motorboat - Sailboard- Yacht -
Marine Insurance. FREE INSURANCE QUOTATIONS no
charge or obligation. Dinghy Insurance,
Sailboard Insurance, Inland Waterways
Insurance, Yacht - Motorboat - Speedboat
Insurance, Stolen Boat List.
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Newton
Crum
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Engine
Breakdown Cover Ltd.
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Offers
unique insurance policies for marine in-board
engines.
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Engine
Breakdown Cover
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Fairmont
Insurance Services
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Super
Yacht Insurance for yachts in excess of $1
Million to over $125 Million. Coverage
includes Liability, Loss of Charter, and Crew
Personal Accident and Medical.
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Fairmontinsure
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Lucas
Fettes & Partners
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Marine
Insurance: Hull and accessories of a vessel,
passengers and worldwide cargo movements.
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Lucas
Fettes
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Navigators
and General
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Navigators
and General has been at the forefront of yacht
and motorboat insurance since 1921 and has
been the market leader in this field for over
70 years. Navigators & General is part of
the Zurich Financial Services Group and
Financial Ombudsman Service, providing
policyholders with world-class security.
Today, Navigators provides cover for vessels
with a total value in excess of £750,000,000.
Underwriting insurance for all types of
leisure craft, from dinghies to £5,000,000
vessels, has provided us with the breadth of
experience to understand even the most
individual requirements.
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Navigators
and General
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Giles
Insurance Brokers
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Marine
Insurance. Dinghy, Power Boat, Yacht, Cabin
Cruiser, Jet Ski, Charter Boat, Commercial
Fishing Boat, Yacht Yard
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Giles
Insurance Brokers
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SHW
Group
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Marine
Cargo Insurance. Cover is arranged with
specialist insurers and the individual
policies are written to suit your business
requirements including if required Warehousing
for distribution during export or import.
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SHW
Group
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LONHAM
GROUP LTD
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Freight
legal liability for both UK and international
domiciled companies. Freight legal liability
insurance, Cargo insurance, Charterer's
Liability insurance. Delegated authority to
deal with claims matters relating to marine
insurance.
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Lonham
Group
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Mardon
Marine Insurance Brokers
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boat-insurance.co.uk
and yacht-insurance.co.uk are the websites of
Mardon Marine and maritime Underwriting
Agencies Ltd. (Including Maritime Underwriting
Agencies Ltd)
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Mardon
Marine
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Noble
Marine
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Noble
Marine are specialist insurance brokers
dealing with all classes Yacht insurance,
rowing insurance, laser class, dinghy
insurance, sailboard insurance.
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Noble
Marine
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Rob,
Perry Marine
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Need
Insurance? We are agents for one of the most
competitive insurance brokers in the country
who specialise in marine insurance.
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Rob,
Perry Marine
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Pendleton
May
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We
operate a scheme for the insurance of yachts,
motor boats and small craft. Our expertise,
experience and number of clients insuring
their boats enables us to provide you with
wide cover at competitive cost. Try us by
completing our form.
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Pendleton
May
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Terra
Nova
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Terra
Nova Protection & Indemnity provides fixed
premium P&I cover for the Owner / Manager
/ Charterers of commercial ships operating in
domestic, coastwise or short-sea trades.
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Terra
Nova
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Oban
Insurance Centre
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Read
about the insurance schemes covering marine,
holidays, business, motoring and agriculture.
Offers an online quote system.
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Oban
Insurance
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B
Portwood & Co.Ltd
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Marine
and boat insurance. On-line insurance rates
are provided for dinghies, canoes, sailboards,
small craft, inflatables, speedboats, yachts
and motorboats for use in the uk and in
Western Europe for up to 60 days.
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Portwood
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Alexander
Brooks & Stevens Ltd
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Marine
Insurance providers
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Alexander
Brooks & Stevens
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Graham
Sykes Insurance
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Graham
Sykes Insurance insure a variety of boats. Our
polices cover you for use on inland and costal
waterways between May and September. Smaller
craft usually have to be laid up ashore over
the winter months. For larger vessels we can
provide cover for them all year round. For the
water skiers out there we can usually extend
your policy to include liability for towing
water skiers.
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Graham
Sykes
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Craig
& Suttar
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In
most cases we can provide all risks cover
including third party liability for you and
your craft. Polices cover you for use on
inland and costal waterways between May and
September. For the waterskiers out there we
can usually extend your policy to include
liability for towing waterskiers. In some case
we can add your boat onto your house contents
insurance which is sometimes cheaper.
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Craig
& Suttar
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Tyser
(UK) Ltd
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Marine
and boat Insurance
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Tyser
(UK) Ltd
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Yachtsman
Marine Insurance Ireland
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Yachtsman
Marine Insurance Ireland. Sports boats, Yacht
cruisers, motor cruisers. We offer yachtsmen
an exceptional insurance package at a highly
competitive price. We are constantly reviewing
our policy wording to provide the most up to
date terms and conditions to ensure that our
clients have the most appropriate cover.
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Yachtsman
Insurance
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Meeting
Your Needs
If you would like to sell your existing ship or buy a ship, please let
us have details and we will advertise for such vessel, confidence
assured.
SHIP
BROKING LINKS
Cardiff
Business School
Southampton
Institute
Liverpool
John Moores University
London Metropolitan University
City
University Business School
Greenwich
Maritime Institute
Warsash
Maritime Centre
Institute
of Chartered Shipbrokers
Maritime
Education & Training
Fleet
operators might reduce insurance costs if their ships have
autonomous
capability, which system promises safer
seas.
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