Thanks your nice web site and professional approach.
The day has come when the first ship has been fixed with the negative figure hire rate (Charterers are Glencore, Owners are GMI, rate -2,000 usd/day).
The fixture with 0 hire rate has been concluded earlier already (Norden was the Charterer).
Can I have your thoughts about brokerage commission payments?
Does that mean that Charterers should pay the broker instead of the Owners?
Percentage from the value of daily bunker consumption?
Or may be the broker (since always taking part of Shipowner hire rate) should pay something to Charterers on top?
Thanks question. Truth is there has been quite a few zero freight rate fixtures over the last year or so and going into negative territory doesnt surprise me. Crazy stuff hey!
As a shipbroker if you are facing negative freight rates, no freight rates or even very very very low freight rates i suggest you negotiate a lump sum commission from the very beginning of the negotiation. You cannot work for free. So when you send out the first counter speak to the shipowners and state how much you want. Ie USD 5,000 bucks...
That should do it!
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