Sign of the times

It made me laugh when a potential new recruit to the industry let me know that many of the largest shipbroking companies require trainees to have a minimum honours degree in something - most likely commerce, trade, law etc.

The funny thing about that is that many of the directors at these companies barely passed high school (not that there is anything wrong with that). You see entry into shipping (chartering) was for hundreds of years the domain of how can i say this without offending??? Ok I can't....Rich kids who were crap at high school.

Rich kids who are smart = Medical Doctor or Lawyer.
Rich kids who are less academic = Shipbroker, Stockbroker, Finance broker etc

(Being academic doesnt necessarily translate into shipping success. Streetsmarts, personablity, and the ability to influence people continue to be he main traits companies look for)

I admit that this old school approach has been changing for 20 or so years.....so requiring a degree, even a higher degree to enter a highly lucrative vocation should not be much of a surprise to anyone....except off course those of us who have enough grey hair to remember when a degree was viewed with suspicion...lol. BTW I have 1 undergrad degree and 2 post grad degrees...so dont shoot the messenger..........

Lots of fun and good luck with your studies

Yours VS

General Stuff

With the markets still at historical lows (despite the occasional upward flutter) shipowners and shipyards continue to struggle, some even going out of business.

So what happens to those ships when the companies controlling them go belly up?

They can be scrapped (if they are old), sold if the market permits or ownership is transferred to the financiers who then have the headaches of working out how to generate income with these behemoths of the sea.

The net result is that prices for ships drop (sale prices) and the markets consolidate. Once again the reputable larger companies are picking up bargains left right and center. Reputable shipping pools are being inundated with poorly clients desperate for help..

++

Interesting to see that TMT (today makes tomorrow) head honcho Nobu Su is stepping down after what can only be described as an incredible career. i can remember 10-15 years ago when his name first emerged linked to deals that seemed unbelievable in timing, scale and audacity. What a ride it has been.

And let me be the first to quash those rumours that the Virtual Shipbroker has been personally handpicked by Nabu himself to take over at TMT...

I asked my tarot card guru and he said - "VS my son keepeth doing not much as not much is plenty under the sun"

Wise words...

Yours VS