I am pleased to announce that students will be starting the course sometime over the next 24 hours (depending on time zones - lol).
We had great interest with 10 people applying (Not quite world domination but I think thats great anyway).
Optimal numbers for me is 6 (i have a day job remember) - so for those of you who have missed this intake keep a eye open for the next one later in the year.
Promises to be a great ride for those invloved. Good cross section of students with different levels of experience spanning different corners of the globe. Always a huge learning experience for me aswell.
Lets do it....
VS
Monday, May 31, 2010
Wednesday, May 26, 2010
A reply to the Plaintive Shipowner!
I hear ya brudda!
It isnt easy being a shipowner that is for sure. I agree mostly with what you say but consider this...
The shipowners core business revolves around the efficient use of its assets in a fairly dynamic environment. Shipping though is not just about what happens at sea it is also about what happens in port. This is your gig - your core business, you area of supposed expertise and hence your risk to mitigate (or price).
Consider the humble miner of say bauxite. What does a room full of geologists know or understand about laytime issues including the idea of WWD? They just dig and sell and hope for the best. Internally when it comes to logistics they want to get rid of as much risk as possible.
I think your biggest issue (if i may be so bold) is that unfortunately for you, because of shipping market conditions, you are unable to price the risk of 'weather' into your freight rate. Too many dodgy operators and owners who need to justify there existence are willing to turn a blind eye to some of the risks. Shut your eyes and hope for the best. And if the weather is a problem - then internally you can always tell the boss (or the shareholders) that this was an unforseen event and hence the reason your freight rate didnt cover this risk!
So maybe, just maybe this is an issue about competition and cheap pricing (in an industry you choose to be a part of) rather than charterers (a motly disjointed group of people if i ever saw one) collectively pulling one over the shipowners...
Feel free to debate my points PS (palintive shipowner)
Cheers
VS (the devils advocate)
It isnt easy being a shipowner that is for sure. I agree mostly with what you say but consider this...
The shipowners core business revolves around the efficient use of its assets in a fairly dynamic environment. Shipping though is not just about what happens at sea it is also about what happens in port. This is your gig - your core business, you area of supposed expertise and hence your risk to mitigate (or price).
Consider the humble miner of say bauxite. What does a room full of geologists know or understand about laytime issues including the idea of WWD? They just dig and sell and hope for the best. Internally when it comes to logistics they want to get rid of as much risk as possible.
I think your biggest issue (if i may be so bold) is that unfortunately for you, because of shipping market conditions, you are unable to price the risk of 'weather' into your freight rate. Too many dodgy operators and owners who need to justify there existence are willing to turn a blind eye to some of the risks. Shut your eyes and hope for the best. And if the weather is a problem - then internally you can always tell the boss (or the shareholders) that this was an unforseen event and hence the reason your freight rate didnt cover this risk!
So maybe, just maybe this is an issue about competition and cheap pricing (in an industry you choose to be a part of) rather than charterers (a motly disjointed group of people if i ever saw one) collectively pulling one over the shipowners...
Feel free to debate my points PS (palintive shipowner)
Cheers
VS (the devils advocate)
Tuesday, May 25, 2010
The plaintive shipowner
I am very pleased to announce that an eminent shipowning friend with 30 years experience will occasionally present his sometimes sorrowful views regarding the plight of shipowners around the world.
SHould make for some interesting reading and some good discussion.
Qte
Weather Working Day - if ever there was the argument that God (or any other higher being one may pay homage too) is on Charterers side this charter party term proves it beyond doubt. If you accept that the Charterer and the Shipowner are partners/have a mutual interest in the succesfull outcome of a voyage why is it that the Shipowner alone has to accept the full risk for weather delays? Why is such risk not shared 50/50 between both parties? Then not us forget we are not only talking rain - fog has been claimed as a weather delay, high winds has been claimed as a weather delay as the cargo is being blown into the water or over nearby populace, high humidity when loading urea in the the Arab Gulf (this is my favorite) has been claimed as a weather delay as the humidity makes the urea sticky and impossible to load (wonder if too sunny will be next) .
Then throw in snow, sleet and hail. Also it is not unusual to extend the term so that if your ship is waiting for a berth and the ship on the berth is delayed by bad weather that such weather delays apply to your laytime as well! So not only was the berth not available when you arrived you have the take the weather delays of the ship on the berth and your own weather delays once you are alongside waiting like a polite child.
Charterers may argue that such things should be allowed in the Owners voyage calculation based on Owners wealth of knowledge - the reality is if every little possible delay was allowed for in a voyage calculation no Charterer would ever get a decent voyage rate (except from the desperate of the numerically illiterate) or all shipowners would give up and refuse to fix their ships other than on timecharter basis (No wonder all those wealthy Greek Shipowners always look so relaxed in the Tradewinds photo layouts during Posidonia).
The Plaintive Shipowner
Unqte
NICE!
SHould make for some interesting reading and some good discussion.
Qte
Weather Working Day - if ever there was the argument that God (or any other higher being one may pay homage too) is on Charterers side this charter party term proves it beyond doubt. If you accept that the Charterer and the Shipowner are partners/have a mutual interest in the succesfull outcome of a voyage why is it that the Shipowner alone has to accept the full risk for weather delays? Why is such risk not shared 50/50 between both parties? Then not us forget we are not only talking rain - fog has been claimed as a weather delay, high winds has been claimed as a weather delay as the cargo is being blown into the water or over nearby populace, high humidity when loading urea in the the Arab Gulf (this is my favorite) has been claimed as a weather delay as the humidity makes the urea sticky and impossible to load (wonder if too sunny will be next) .
Then throw in snow, sleet and hail. Also it is not unusual to extend the term so that if your ship is waiting for a berth and the ship on the berth is delayed by bad weather that such weather delays apply to your laytime as well! So not only was the berth not available when you arrived you have the take the weather delays of the ship on the berth and your own weather delays once you are alongside waiting like a polite child.
Charterers may argue that such things should be allowed in the Owners voyage calculation based on Owners wealth of knowledge - the reality is if every little possible delay was allowed for in a voyage calculation no Charterer would ever get a decent voyage rate (except from the desperate of the numerically illiterate) or all shipowners would give up and refuse to fix their ships other than on timecharter basis (No wonder all those wealthy Greek Shipowners always look so relaxed in the Tradewinds photo layouts during Posidonia).
The Plaintive Shipowner
Unqte
NICE!
Is there a secret?
All the readers of this blog and books, plus the students and the consultancy clients know that I take my privacy (and yours) very seriously. Therefore I dont reveal too much about myself. That can be a great advantage in cyberspace and in industry because it allows one to speak ones mind without fear of professional recrimination.
The important point here is that a good blog needs to respect the reader because most readers can spot a fake when they see (read it). Hopefully you guys realise that this blog is my attempt to explain the mysterious world of shipping from my perspective. One gained over 20 years.
One of the close friends of the blog recently asked me "VS whats your secret to success?" Its a great question but ultimately a little flawed because the assumption is that I AM successful....when at the end of the day I am an anonymous blogger supposedly from a the landlocked himalayan nation of Bhutan!
The truth is that I have had some success. But success is always relative and subjective. I have earnt (as a salary) over 6 figures since my mid 20's, and at some point in my mid late 30's I had saved and invested well enough to reach a small milestone that many people would consider as being rich.
These days this initself is not unusual and many people in shipping are worth far more than me, and they have the trappings of wealth to show it.
There is an old adage that you dont become wealthy through a salary alone. And from my perspective this is very true. If you think that by earning big money that you are automatically going to end up wealthy then think again. I have known many high salaried people who are every asset poor. They live paycheque to paycheque and thus need to work longer and harder just to stay afloat. I also know many people on low incomes who retire rich through clever planning and understanding investment concepts like, leverage, compounding interest, cashflow vs capital gains and the simple idea of spending less then you earn.
The moral here is that although a career in shipbroking and chartering dangles the promise of a high salary and great benefits, this doesnt always translate into success - whatever that may mean....
I have partied on yachts in the mediterranean, played hundreds of rounds of golf, watched the Hong Kong Sevens and skied in Switzerland - all on company time
BUT
I like the idea of sustainable financial success that doesnt soley rely on the whims of the market. Good shipowners know that secret too.
Is it too early for a whisky?
VS
The important point here is that a good blog needs to respect the reader because most readers can spot a fake when they see (read it). Hopefully you guys realise that this blog is my attempt to explain the mysterious world of shipping from my perspective. One gained over 20 years.
One of the close friends of the blog recently asked me "VS whats your secret to success?" Its a great question but ultimately a little flawed because the assumption is that I AM successful....when at the end of the day I am an anonymous blogger supposedly from a the landlocked himalayan nation of Bhutan!
The truth is that I have had some success. But success is always relative and subjective. I have earnt (as a salary) over 6 figures since my mid 20's, and at some point in my mid late 30's I had saved and invested well enough to reach a small milestone that many people would consider as being rich.
These days this initself is not unusual and many people in shipping are worth far more than me, and they have the trappings of wealth to show it.
There is an old adage that you dont become wealthy through a salary alone. And from my perspective this is very true. If you think that by earning big money that you are automatically going to end up wealthy then think again. I have known many high salaried people who are every asset poor. They live paycheque to paycheque and thus need to work longer and harder just to stay afloat. I also know many people on low incomes who retire rich through clever planning and understanding investment concepts like, leverage, compounding interest, cashflow vs capital gains and the simple idea of spending less then you earn.
The moral here is that although a career in shipbroking and chartering dangles the promise of a high salary and great benefits, this doesnt always translate into success - whatever that may mean....
I have partied on yachts in the mediterranean, played hundreds of rounds of golf, watched the Hong Kong Sevens and skied in Switzerland - all on company time
BUT
I like the idea of sustainable financial success that doesnt soley rely on the whims of the market. Good shipowners know that secret too.
Is it too early for a whisky?
VS
Saturday, May 22, 2010
Certificate - offers have been sent
I have sent offers to a number of applicants. If you applied and have not yet received your offer please check your junk mail folder or drop me a quick email (for clarification).
Thursday, May 20, 2010
Sharemarket turmoil and the Shipping markets
I thought this would be an opportune time to discuss the current sharemarket turmoil and the possible affects on the shipping markets.
Although there is some lagged correlation the BDI quite often works in a different space to the worlds sharemarkets. Sharemarkets measure the value of companies at a given moment and this doesnt necessarily represent or reflect the amount of trade that is going on.
Even if prices for commodities dip and the value of shares dip - people still charter ships. Supply side issues play a major part in the equation.
As has been the case for the last 10 years the major demand side factors for the BDI remain the emrging economies appetite for coal and iron ore.
If we see the demand for these two take a hit then we will see a drop in the shipping markets. The world waits to see how the EAST absorbes the problems confronting the WEST (Euro and USA)...
The BDI remains at strong levels.
Cheers
VS
Although there is some lagged correlation the BDI quite often works in a different space to the worlds sharemarkets. Sharemarkets measure the value of companies at a given moment and this doesnt necessarily represent or reflect the amount of trade that is going on.
Even if prices for commodities dip and the value of shares dip - people still charter ships. Supply side issues play a major part in the equation.
As has been the case for the last 10 years the major demand side factors for the BDI remain the emrging economies appetite for coal and iron ore.
If we see the demand for these two take a hit then we will see a drop in the shipping markets. The world waits to see how the EAST absorbes the problems confronting the WEST (Euro and USA)...
The BDI remains at strong levels.
Cheers
VS
Applications have closed for the VS Dry Cargo Chartering and Shipbroking Certificate
Wow - what an amazing response!
Applications have now closed and over the next few days I will be sending emails to all those who applied
Due to the large number of requests it is unfortunate that a few will miss out on this intake. I hope and trust another intake will happen at the end of the year.
Those of you who receive an offer from me over the next few days - you will have 2 days to accept the terms and conditions (and pay the fee) and the course remains on track to start on the 1st of June.
We have a great variety of students enlisted to enrol. A current shipbroker, a trainee shipbroker, a trading company manager, the head honcho of a large transport firm, Seafarers and even an entrepreneur or two.
That should make for some interesting dialogues and perspectives.
Nine months ago I attended a 2 day professional development seminar and it cost me (the company) USD 10,000 bucks. In essence this VS dry cargo chartering and shipbroking certificate IS a professional development course. It runs for 4 months, students learn from the best (that me - ha) and they get fantastic contacts in the industry (other students)....all for USD 950 dollars. Plus you get a certificate of completion at the end.
If that aint a bargain - I’m not sure what is...
Inside tip! A key to being a great negotiator is recognising value when you see it...if you have that skill then you will always win.
Let’s rock...
VS
Applications have now closed and over the next few days I will be sending emails to all those who applied
Due to the large number of requests it is unfortunate that a few will miss out on this intake. I hope and trust another intake will happen at the end of the year.
Those of you who receive an offer from me over the next few days - you will have 2 days to accept the terms and conditions (and pay the fee) and the course remains on track to start on the 1st of June.
We have a great variety of students enlisted to enrol. A current shipbroker, a trainee shipbroker, a trading company manager, the head honcho of a large transport firm, Seafarers and even an entrepreneur or two.
That should make for some interesting dialogues and perspectives.
Nine months ago I attended a 2 day professional development seminar and it cost me (the company) USD 10,000 bucks. In essence this VS dry cargo chartering and shipbroking certificate IS a professional development course. It runs for 4 months, students learn from the best (that me - ha) and they get fantastic contacts in the industry (other students)....all for USD 950 dollars. Plus you get a certificate of completion at the end.
If that aint a bargain - I’m not sure what is...
Inside tip! A key to being a great negotiator is recognising value when you see it...if you have that skill then you will always win.
Let’s rock...
VS
Sunday, May 16, 2010
Chartering and shipbroking certificate
A number of you have expressed interest in enrolling but have asked about anonymity. Although I will know who you are by necessity (payment details etc) I will not, unless previously agreed, devulge any students name to any third party (now or in the future). Privacy is very important to me.
There are a number of group tasks where students need to cooperate with eachother. In this case if a student would like to use a pseuodonym they may. Otherwise I have found that students enjoy speaking openly with the other students and don not mind sharing some personal and professional details.
Onwards and Upwards - VS!
There are a number of group tasks where students need to cooperate with eachother. In this case if a student would like to use a pseuodonym they may. Otherwise I have found that students enjoy speaking openly with the other students and don not mind sharing some personal and professional details.
Onwards and Upwards - VS!
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