Hello Everyone - Sorry for my absence. Been a crazy time
But Im back. Whats been amazing is that even though I havent posted anything for 2 weeks I have had a recond number of book sales, tuition requests and Resume requests.
Unfortunatelyy due to my busy schedule I havent been able to reply with my usual pace. I am slowly catching up.
So the million dollar question is 'Hows the Market"
The short answer is that its crap! We will see a period of contraction no doubt. Clarksons have closed down their financial services arm for one reason - on markets drop those that arent making money (or eating up cashflow) get the chop. Be that people, departments and even entire companies.
Those that are highly leverage (debt) will be worried at the moment. The GFC drop although painful had very few casualties - for one main reason - the BDI bounced back reasonably quickly. I fear that this downturn could be a little more long lasting. Some scribes saying the market could be flat for 4-5 years.
This is pure crystal ball gazing. NO ONE really knows. The best thing anyone can do is stay positive despite the market. You cant control the market - you can only control the way you react to it. Try and see everything in a positive light - if you lose your job - be thankful that it gives you the chance to find another job NOW. Could be better than losing your job in 6 months time when and if there are more job losses than now.
Im not saying there will be massive job losses - just that restructuring WILL happen. The musical chairs has already begun and people will be looking for security of tenure going forward.
And for those looking to get into the industry - its not all bad. Many companies hire trainees in downturns because they are cheaper.
So heads up everyone - the sun still shines. Egypt and fallen and I predict will rise again bringing a new age of shipping freight rates with them..........and so it goes!
- The Virtual Shipbroker
- 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