"These tall and handsome ships, swaying imperceptibly on tranquil waters, these sturdy ships, with their inactive, nostalgic appearance, dont they say to us in speechless tongue: When do we cast off for happiness"
Charles Baudelaire 19th century French philospher/critic - his romantic views of the big ships and the dreams and mysteries that their exotic passage may entail! He hated staying at home and longer for the mysteries of the East. For many shipping people this attraction remains.
Friday, July 3, 2009
Thursday, July 2, 2009
Optimism for shipbrokers!
Interesting article regarding some of the larger shipbroking companies.
http://www.smallcapnews.co.uk/article/Wave_of_optimism_is_the_tide_turning_for_shipbrokers/7805.aspx
Times are good!
http://www.smallcapnews.co.uk/article/Wave_of_optimism_is_the_tide_turning_for_shipbrokers/7805.aspx
Times are good!
Tuesday, June 30, 2009
Shiptrading platforms - Part 2
I became aware of another shiptrading platform last night. This one is also linked to charity - so that every fixture done a percentage of brokerage is donnated to charity. Love the premise wish them the best of luck.
Still these guys are faced with a major hurdle. If I am a broker why would I want to advertise my clients open positions on a website that competitors can see? I will ring their client direct, they will be easy to find!
Most brokers these days do not speak to other brokers. Good brokers will endevour to be direct to both the shipowner and the cargo owner.
Good brokers do not circulate open cargo and open ship positions to everyone - especially voyage cargoes. TC is a little different.
Again I must reiterate that i think the biggest problem these websites face is that they dont understand the clientel. The premise of the websites is that shipbroking is purely about 'matchmaking' and hence the software they provide is 'invaluable'. Well not really because although matching ships to cargo is the final outcome - getting there is full of salesmanship, secrecy and bravado. And this is on the part of the client (shipowner and charterer) not just the broker.
I am sure there is scope for webbased services but sofar all of these platforms miss the mark IMHO.
Yours
VS
Still these guys are faced with a major hurdle. If I am a broker why would I want to advertise my clients open positions on a website that competitors can see? I will ring their client direct, they will be easy to find!
Most brokers these days do not speak to other brokers. Good brokers will endevour to be direct to both the shipowner and the cargo owner.
Good brokers do not circulate open cargo and open ship positions to everyone - especially voyage cargoes. TC is a little different.
Again I must reiterate that i think the biggest problem these websites face is that they dont understand the clientel. The premise of the websites is that shipbroking is purely about 'matchmaking' and hence the software they provide is 'invaluable'. Well not really because although matching ships to cargo is the final outcome - getting there is full of salesmanship, secrecy and bravado. And this is on the part of the client (shipowner and charterer) not just the broker.
I am sure there is scope for webbased services but sofar all of these platforms miss the mark IMHO.
Yours
VS
Shiptrading platforms
I have noticed recently the plethora of new shipbroking/trading platform websites now available.
They are a curious phenominon because I am not sure any of them are actually being used for what they are intended (to be used for)
You know the sites - they offer the ability to enter an open cargo and open ships position or a ship for sale. A platform for shipowners, charterers and shipbrokers to meet (virtually speaking)
The reason i say they are curious is for a number of reasons..
1) Some of them claim to make no money! (then why be in business? Why advertise?)
2) Others, it appears the only way they make money is via company subscriptions..
I find this a bit cynical because really all they offer is a database of other similar companies and this database can be bought quite seperately rather than having to become a member of one of these sites.
3) Not many of these sites have open access to the site owners - who are they and what is their contact numbers - just incase you are not happy with the service?
4) None of these sites seem to be offered by any substantial entity ie well known company.
All the above aside - i am still uncertain that the core service they offer is of any use because of the secretive way in which the majority of business is done in the world of international shipping.
The only theory I have left is that these sites are offered by people or companies (anonymous) and the webasites are purely designed for 'lead' generation. Ie Once a shipowner or a charterer signs up for the site - within days they will be contacted by a supposedly unrelated but authentic shipbroking firm ready to offer their services. This is quite smart and a good way to generate leeds for clients who otherwise dont know how to find shipbrokers!
I have been contacted by one of the owners of a said site who seems genuine in their efforts to produce something useful. I wonder of any of the other site owners would care to shed some light on this new (and evolving) form of website trading and let us know what they are trying to achieve and how they make money etc etc.
I would be more than interested to know if the sites are being used effectively for 'trading' as they purport to be or if these sites are still trying to work out how to make money!
So if you own one of these sites kindly either reply to this post or send me a private email and lets discuss the business's you run and what clients can expect in terms of helping them improve their own business's. Are fixtures being generated via your website?
I would be more than happy to jump on the bangwagon and promote any of the sites should
this be the case because their are always new ways of doing business.
Yours
VS
They are a curious phenominon because I am not sure any of them are actually being used for what they are intended (to be used for)
You know the sites - they offer the ability to enter an open cargo and open ships position or a ship for sale. A platform for shipowners, charterers and shipbrokers to meet (virtually speaking)
The reason i say they are curious is for a number of reasons..
1) Some of them claim to make no money! (then why be in business? Why advertise?)
2) Others, it appears the only way they make money is via company subscriptions..
I find this a bit cynical because really all they offer is a database of other similar companies and this database can be bought quite seperately rather than having to become a member of one of these sites.
3) Not many of these sites have open access to the site owners - who are they and what is their contact numbers - just incase you are not happy with the service?
4) None of these sites seem to be offered by any substantial entity ie well known company.
All the above aside - i am still uncertain that the core service they offer is of any use because of the secretive way in which the majority of business is done in the world of international shipping.
The only theory I have left is that these sites are offered by people or companies (anonymous) and the webasites are purely designed for 'lead' generation. Ie Once a shipowner or a charterer signs up for the site - within days they will be contacted by a supposedly unrelated but authentic shipbroking firm ready to offer their services. This is quite smart and a good way to generate leeds for clients who otherwise dont know how to find shipbrokers!
I have been contacted by one of the owners of a said site who seems genuine in their efforts to produce something useful. I wonder of any of the other site owners would care to shed some light on this new (and evolving) form of website trading and let us know what they are trying to achieve and how they make money etc etc.
I would be more than interested to know if the sites are being used effectively for 'trading' as they purport to be or if these sites are still trying to work out how to make money!
So if you own one of these sites kindly either reply to this post or send me a private email and lets discuss the business's you run and what clients can expect in terms of helping them improve their own business's. Are fixtures being generated via your website?
I would be more than happy to jump on the bangwagon and promote any of the sites should
this be the case because their are always new ways of doing business.
Yours
VS
Monday, June 29, 2009
Fixing machine - tip 11
As alluded to previously, gaining the status of 'fixing machine' sometimes has more to do with perception rather than results.
If one can gain a reputation, rightly or wrongly' for being a great broker, this inturn can leed to more fixtures. People like being associated with winners and clients are no different.
So whats my number one way to appear like a shipbroking genius!
Tip 11 - The need for speed!
Over the years one hears stories of great brokers who seem to always have information at the tips of their fingers. Brokers who can recite fixtures from the tops of their heads, or who can give you rate ideas without blinking an eye. There are brokers who know the exact distance in days between various ports, and those that can give accurate estimates of port costs in far flung places around the globe.
Heres the scoop - when asked a question always have an answer on the ready. Many times questions are asked by customers as a matter of conversation and having a broker that can answer quickly with some sort of authority makes a client feel secure. Key point!
Here's the scoop part 2 - Even if you dont know the exact answer - answer quickly with your best guestimate. A great broker knows how to backtrack quickly if the information is questioned down the track.
Be careful that when you do give quick answers that they are as accurate as possible and that you always leave open a way out. It also needs to be remembered that these questions usually arise during a nonformal phone or lunch conversations, one that has meandered through a myriad of different topics over a period of time. Therefore offering an opinion in this forum will not get you into trouble.
Here is the scoop part 3 - lets just say a client has asked you what the market is from USG to Japan for a certain size and you do the right thing and quickly state usd 20.00. The client has no idea and seems to accept this. Once the conversation ends quickly do some research and if 20 bucks is correct then you are a quick thinking genius. If it is wrong then you have the opportunity to ring the client back and tell him that the market is infact usd 25.00. Advie him/her that the reason for the difference is because the fixture report that you read yesterday had load and discharge terms that were completely different to the standard market load and discharge terms. This will cover your back!
Is this manipulation or is this salesmanship - you may ask? Well that is a matter of opinion. Most things in life get down to understanding of human behaviour. IMO as long as the correct information does find its way to the client before a purchase decision is made (and as soon as possible) then it is ok.
So in conclusion always try to answer questions immediately if possible. This creates a good vibe and instills confidence. If you are unsure of the answer you have given find out quickly and use the new info as an excuse to have another friendly chat with your client.
Yours
VS
If one can gain a reputation, rightly or wrongly' for being a great broker, this inturn can leed to more fixtures. People like being associated with winners and clients are no different.
So whats my number one way to appear like a shipbroking genius!
Tip 11 - The need for speed!
Over the years one hears stories of great brokers who seem to always have information at the tips of their fingers. Brokers who can recite fixtures from the tops of their heads, or who can give you rate ideas without blinking an eye. There are brokers who know the exact distance in days between various ports, and those that can give accurate estimates of port costs in far flung places around the globe.
Heres the scoop - when asked a question always have an answer on the ready. Many times questions are asked by customers as a matter of conversation and having a broker that can answer quickly with some sort of authority makes a client feel secure. Key point!
Here's the scoop part 2 - Even if you dont know the exact answer - answer quickly with your best guestimate. A great broker knows how to backtrack quickly if the information is questioned down the track.
Be careful that when you do give quick answers that they are as accurate as possible and that you always leave open a way out. It also needs to be remembered that these questions usually arise during a nonformal phone or lunch conversations, one that has meandered through a myriad of different topics over a period of time. Therefore offering an opinion in this forum will not get you into trouble.
Here is the scoop part 3 - lets just say a client has asked you what the market is from USG to Japan for a certain size and you do the right thing and quickly state usd 20.00. The client has no idea and seems to accept this. Once the conversation ends quickly do some research and if 20 bucks is correct then you are a quick thinking genius. If it is wrong then you have the opportunity to ring the client back and tell him that the market is infact usd 25.00. Advie him/her that the reason for the difference is because the fixture report that you read yesterday had load and discharge terms that were completely different to the standard market load and discharge terms. This will cover your back!
Is this manipulation or is this salesmanship - you may ask? Well that is a matter of opinion. Most things in life get down to understanding of human behaviour. IMO as long as the correct information does find its way to the client before a purchase decision is made (and as soon as possible) then it is ok.
So in conclusion always try to answer questions immediately if possible. This creates a good vibe and instills confidence. If you are unsure of the answer you have given find out quickly and use the new info as an excuse to have another friendly chat with your client.
Yours
VS
Friday, June 26, 2009
Fixing Machine - Tip 10
The importance of charterparties!
A charterparty is the final contract signed between the two principal parties - ie the shipowner and the cargo owner. A charterparty is a legal document, jargon heavy containing numerous clauses and it can be anywhere from 10 to 100 pages long. Most cp's (charterparties) are atleast 35 pages in length.
What is the role of a the shipbroker in charterparty negotiations and why is it significant?
Most shipbrokers care little for the contents of a charterparty aside from the main terms. Most would consider that their job is done and leave it to the respective parties to fight out the remaining charterparty details - often seen as less significant.
The truth is that a 'fixing machine' can prove his or her worth many times over by being an expert in all things charterparty. Even the most seemingly insignificany of clauses can have a deep inpact on a customers bottom line (if the circumstances assist).
We all recongnise that a charterparty clause has a significant legal role to play over the course of a voyage. What many brokers dont realise is that each clause also has a huge commercial significance - some more than others.
Many time over the years, as a broker, shipowner, and charterer I have twigged various CP clauses to my advantage (or to my customer advantage). The benefits can be huge. Adjusting a laytime clause can push a deal from a loss making to a profit making venture. Knowing the signifcance of a force majeur clause and relevant wording can mean the difference beteen bankruptsy and huge profits!
So if you want to be a truely great broker - learn about charterparties inside and out - and offer this expertise to customers. In learning about cp's never run away from taking an active part in the process, offer to draw them up and always keep an eye on chaging rules and regulations that govern the industry.
Send me the signed CP! Well done Fixing machine...
Yours
VS
A charterparty is the final contract signed between the two principal parties - ie the shipowner and the cargo owner. A charterparty is a legal document, jargon heavy containing numerous clauses and it can be anywhere from 10 to 100 pages long. Most cp's (charterparties) are atleast 35 pages in length.
What is the role of a the shipbroker in charterparty negotiations and why is it significant?
Most shipbrokers care little for the contents of a charterparty aside from the main terms. Most would consider that their job is done and leave it to the respective parties to fight out the remaining charterparty details - often seen as less significant.
The truth is that a 'fixing machine' can prove his or her worth many times over by being an expert in all things charterparty. Even the most seemingly insignificany of clauses can have a deep inpact on a customers bottom line (if the circumstances assist).
We all recongnise that a charterparty clause has a significant legal role to play over the course of a voyage. What many brokers dont realise is that each clause also has a huge commercial significance - some more than others.
Many time over the years, as a broker, shipowner, and charterer I have twigged various CP clauses to my advantage (or to my customer advantage). The benefits can be huge. Adjusting a laytime clause can push a deal from a loss making to a profit making venture. Knowing the signifcance of a force majeur clause and relevant wording can mean the difference beteen bankruptsy and huge profits!
So if you want to be a truely great broker - learn about charterparties inside and out - and offer this expertise to customers. In learning about cp's never run away from taking an active part in the process, offer to draw them up and always keep an eye on chaging rules and regulations that govern the industry.
Send me the signed CP! Well done Fixing machine...
Yours
VS
Tuesday, June 23, 2009
Historic Milestone (or not)
10,000 individual website hits since its inception!
Id like to thank my parents, my wife, kids and dog for all their support.
The truth is im not sure how accurate these page counters are. It registers a hit everytime someone surfs an old page so it in no way represents how many indivduals have visited the website in total. Either way 10,000 feels like its quite a big number.
Sincere thanks to all of you who regularly visit the site!
Yours
Virtual Shipbroker
Id like to thank my parents, my wife, kids and dog for all their support.
The truth is im not sure how accurate these page counters are. It registers a hit everytime someone surfs an old page so it in no way represents how many indivduals have visited the website in total. Either way 10,000 feels like its quite a big number.
Sincere thanks to all of you who regularly visit the site!
Yours
Virtual Shipbroker
Sunday, June 21, 2009
Fixing Machine - Tip 9
Dont be afraid to ask questions!
For anyone who has bought my books, I am free to answer any questions whatsoever regarding shipping / Shipbroking or anything else people have on their minds.
It constantly suprises me how people seem to have a fear of asking questions. The other day I was at a local sports bar watching my favourite sporting event. There was a problem though - no volume! I hate being at a bar watching sports and not having any volume. I also knew instinctively that everyone else felt the same but for some reason no-one was doing anything about it. I also knew instinctiveky that it would be upto me to ask the barman to raise the volume. So I went to the bar and asked the question. The barman looked at me totally unaware of the problem. He apologised and 10 seconds later - whala - we had volume. And guess what - the 30 people at the bar cheered as if to say 'about time'!
The moral here is this - Dont lose opportunities because you are too scared to ask obvious questions. In shipbroking this is very important. It saves time and money.
I get things done because i ask the questions other fear (not logically) to ask.
Yours
VS
For anyone who has bought my books, I am free to answer any questions whatsoever regarding shipping / Shipbroking or anything else people have on their minds.
It constantly suprises me how people seem to have a fear of asking questions. The other day I was at a local sports bar watching my favourite sporting event. There was a problem though - no volume! I hate being at a bar watching sports and not having any volume. I also knew instinctively that everyone else felt the same but for some reason no-one was doing anything about it. I also knew instinctiveky that it would be upto me to ask the barman to raise the volume. So I went to the bar and asked the question. The barman looked at me totally unaware of the problem. He apologised and 10 seconds later - whala - we had volume. And guess what - the 30 people at the bar cheered as if to say 'about time'!
The moral here is this - Dont lose opportunities because you are too scared to ask obvious questions. In shipbroking this is very important. It saves time and money.
I get things done because i ask the questions other fear (not logically) to ask.
Yours
VS
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