A question from a reader..

DamayantiAugust 13, 2015 at 7:16 AM

1. Hey! Can you tell me the implications of the clause
   "Laycan: Prompt"? Would prompt in this case mean that the ship HAS to be available at the start of the laytime or within reasonable period?

 

Prompt merely means 'now onwards'..........

 

In a negotiation you would ask for clarification (real laycan) from the charterer...

 

Cheers

VS

Hello

Still around just busy with stuff...

See broking circles awash with redundancies, mergers and restructuring as the poor market conditions really start to bite...

More to come

VS

The greatest shipping book ever written?

So I thought I would tell you guys about the greatest shipping book I have ever read.

Title: We, the Drowned by Carsten Jensen

I just finished reading it and I would venture to say not only is this the greatest shipping novel ever written but quite possibly my favourite novel of all time.

EPIC - on a slightly smaller scale then say Tolstoys 'War and Peace'.

So if you love literature and are interested in all things shipping then this on one helluva book.

Traces the trial and tribulations of the small Danish maritime town of Marstel over a 100 year period.

It's people and the rise and fall of the shipping markets, ship owning, ship broking, life at sea - all the good stuff - through wars, depressions, booms and busts.

Check it out

VS

Freight market update!!

Ready for it..................


No change


and


Wont change for at least 2 years.

On the supply side - the good news is that new orders (for new ships) have dried up completely and scrappings (of old ships) will continue nicely. So I reckon 2018-2019 we might see an upturn.

BUT like every other market report for the last 15 years the direction and speed of the market all depends on 'China' - well mostly anyway...

See don't bother paying Clarksons or SSY thousands for market reports...send me the cheque..

Virtual Shipbroker
Blue Sheep Way
8,000 meters
Bhutan

update on junior salaries from a former student of mine

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btw VS, just completed 2 years as a broker a few weeks ago, and I guess I’ll update the salary question bc that’s usually what everyone wants to see. I went from 45k the first year, to 55k the second year, to 75k into my current contract, not including bonuses. Currently in discussion with a few other shops/principals offering about 90k if I stay in the country I am in, and close to $120,000 if I go abroad. If I can get a handle on this, anyone can.

Unquote

Many thanks update. Not sure where you are and what currency you are using but either way whether it is USD, Euro, Pounds or Sing not a bad progression and a nice wage for someone in the game for 2 years..

Keep me updated - you are a legend!

VS

Another great question from a few weeks ago - sorry late posting

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Hi mate,

Big fan of your blog, great to read something that is explained as clearly as it is! 

I have recently started working as an FFA trader for a shipowners, but have barely been taught anything about the physical side of things. I have 2 questions if you would kindly answer. 

What are the advantages and disadvantages of fixing a spot ship?

China cut their interest rates recently meaning stock prices went up. How does that effect the shipping market?

Thanks!

 

Unquote

 

 

Answers anyone??? Love this interactive stuff

demurrage / half despatch - wtf?

Great question!

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Hi VS,

I am a fan of your wonderful blog.

Also brought one of your books "Shipbrokers Fasttrack" which was very informative and useful when I worked for a broking firm.

Presently, I work for a Charterer and I have 3 questions for you.

Why Despatch is half of Demurrage ?
Why not same as Demurrage ?
What is the logic behind Half of Demurrage ?

Thanks,

Best Regards
AC

Unqte

Who can answer???

Cmon - join in!

When to include ship brokerage?

qte

VS / Will

Good day

long time listener, first time writer!

I managed to secure a broking job for a small broker firm in London. I have been doing a bit of short-sea as a way to learn/cut my teeth. I have one question regards brokerage. 

We got a request from some close charterers to get tonnage and rates for an order they had. I sent out the order to owners with our brokerage included on it. We then got rates/tonnage back from owners which we sent on to charterers for their guidance. When I sent the tonnage/rate onwards I did not included our brokerage as I understood that owners will be paying. Therefore, charterers do not need to see the brokerage as we collect it from owners. Am I correct in this thinking?

Brgds,

Will 

unqt

Hi Will. Congratulations on your new job. Yes you are right the charterers don't necessarily need to know about the brokerage except in the recap if you fix or if they ask explicitly

Thanks for the post

Cheers
VS