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Hi. I am a shipping company director, transport academic, author, family man and all round nice guy. I have worked as shipbroker, shipowner, freight trader and bulk charterer, in senior positions, with some of the largest and most disrespected (joke) companies in the world. Ask my advice on all things shipping and you will receive my blunt and always honest answer. Hang around to learn more about chartering and ship broker salaries, chartering and ship broker jobs, chartering and shipbroker recruitment agencies, cheap freight, maritime education, chartering and ship broker qualifications, become a ship broker, tips on how to be a successful bulk shipping executive, philosophy, Zen and the art of shipbroking, and much more. Yours The Virtual Shipbroker (recently proclaimed the guru of shipbroking) Copyright © 2009-17 by Virtualshipbroker

Monday, July 27, 2009

Whats happening up top..

In the previous post I duscussed the fact that quite a few ship operators have gone bankrupt over recent months.

People will blame market conditions and argue that the GFC was not foreseen. But in reality this is far from the truth.

Wall St type mentalities are alive and well in shipping and those with the knowledge and the connections know how to play the game. For many a reckless shipping entrepreneur out there they realise the game is about 'access to other people money'. In boom times they get this access and in droves. They then surround themselves with middle management and strcutures that resemble a working business entity BUT then all they do is bet the money on BLACK.

Let me explain a bit better. When you have a ship full of other people money, and if you structure your company in the right way, you have very little to lose and a huge amount to gain.

Betting on black may mean betting on a market rise and hence going long on ships. Or you might bet the other way. if you win you are set for life and if you lose then you wind the operation up, go surfing and re-emerge with a new brand name. Not only are they able to re-emerge but senior execs have also orchestrated massive payouts from the sinking entity that they once controlled.

Over the last few months we have seen some senior shipowning execs re-emerge in this light - seeminlgy unscathed by previous poor and reckless business decisions - only to find new backers willing to fund the whole 'game' once again.

Dont worry - shipping companies are by and large fine upstanding members of the international community and have people at the helm making reasonable, cautious and long term decisisons based on more than next years bonus pools.


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