It goes something like this - "as an aspiring shipbroker I would like your advice as to which area of shipbroking has the best growth prospects. What type of shipbroker offers the best chance to make millions of dollars etc etc'
This is an understandable question. There are many types of shipbrokers. Check the Clarksons, SSY, Platou, Maersk Websites and you will see many different departments. Dry Cargo, Tankers, Dirty, Clean, Sale and Purchase, Offshore, Short Sea, Derivatives - the list goes on.
But here is the gig. I have said this before - everyday - brokers of all descriptions are making millions of dollars in anyone of the above mentioned sub markets. The average salaries in all these areas are remarkably similar too.
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| Cant decide? |
The other thing is this - I could say to you that imo you should move towards for example Dirty Tankers as this is a growing market. The problem is many others in the Industry would suggest the opposite. The commodity, economic, technological and political markets are changing so quickly that goalposts are moving all the time.
Other thing to consider is this. Which department is best sometimes also depends on which company you actually work for. You may be in what you consider a 'growth area' but if your colleagues and current clients are small scale - then you may get stuck in a dead end job. Join a successful firm in a niche area and you may set yourself up for a successful and interesting career.
So bottom line is this - if you are looking for the holy grail - im sorry there just aint one. There is no inside secret or inside story. All segments are booming (due to sustained commodity booms) and will do so for sometime to come.
If you are lucky enuf to actually have a choice as to where you get trained (most trainees get told where they will go) then choose the area that interests you the most - simple.
Yours
The Virtual Shipbroker (all Rounder)
Hi VS its me again. just wondering, is it ever possible for charterers to become brokers? and if so how do i prepare myself for the transition if any and how long do u think it would take?
ReplyDeleteOffcourse they can YING. Have you read my book 'Inside shipbroking"? It answers all these questions and more.
ReplyDeleteCheers
VS
yea i have already gotten the book. was just wondering if its even possible cos my colleagues think that once u are a charterer you're always one. im a chartering assistant at the moment, was hoping to get about two years of experience under my belt then hope to move elsewhere to work as a broker. charterers don't earn that much do they? haha
ReplyDeleteIve been all 3! And I know many people who have moved between all these roles. Its a mindset. Maybe what your friend is really saying is "I am happy being a charterer".
ReplyDeleteSome charterers earn excellent money. It depends who you work for. Re-read my book especially the section on how to tripple your income within 3 years. These are the keys to making more money.
Cheers
VS
I have got both shipbroker fast track and inside shipbroking. is it any of these? cos if it is i must have missed out. and its on shipbroking, can the same apply for charterers?
ReplyDeleteSure! Even though you work for a charterer you are a shipbroker!
ReplyDelete