I have had quite a good response to the call for shipping experts for the VS expert witness database. Half a dozen experts and growing!
So if you are a shipping expert in any area whether that be chartering, operations, management, crewing, offshore, snp, broking, agency, containers, surveying, tankers, dry cargo, multipurpose...anything shipping related - then get in touch with me at virtualshipbroker@yahoo.com
all geographical regios needed
And if you are a lawyer needing some expertise drop me a line..
Friday, April 27, 2012
Monday, April 23, 2012
Busy Busy Busy
I have been super busy recently...
Lots of work, lots of travel, 5 new awesome students, a house to build, and heaps of personal stuff going on...all of it good!
Some really interesting work developments. Despite a slow market quite a few new deals happening, some large some small. One thing that i am finding though is that despite the slow market the standard of some of the co brokers I am dealing with is sometimes hard to believe.
Guys with 20 years experience still not understanding some basic concepts and being sloppy with the way they go about completing deals.
Sloppiness is sometime forgiven when nothing goes wrong....but the moment something does go wrong and they inevitably do...bad work practices can come back to haunt...big time!
Good habits are important because brokers with good habits never seem to find themselves in trouble. Brokers with bad habits have a way of courting trouble.
This is nothing new in all aspect of life....
Geez im getting fired up for the olympics only 3 months away. I am one of those couch sloths who during both the world cup football and Olympic games would happily stay on a sofa 24/7 for weeks on end. All i need is a chest full of beer, some corn chips and the occasional change of clothes...
And here you guys were thinking that i was a man of great sophistication....
VS
Lots of work, lots of travel, 5 new awesome students, a house to build, and heaps of personal stuff going on...all of it good!
Some really interesting work developments. Despite a slow market quite a few new deals happening, some large some small. One thing that i am finding though is that despite the slow market the standard of some of the co brokers I am dealing with is sometimes hard to believe.
Guys with 20 years experience still not understanding some basic concepts and being sloppy with the way they go about completing deals.
Sloppiness is sometime forgiven when nothing goes wrong....but the moment something does go wrong and they inevitably do...bad work practices can come back to haunt...big time!
Good habits are important because brokers with good habits never seem to find themselves in trouble. Brokers with bad habits have a way of courting trouble.
This is nothing new in all aspect of life....
Geez im getting fired up for the olympics only 3 months away. I am one of those couch sloths who during both the world cup football and Olympic games would happily stay on a sofa 24/7 for weeks on end. All i need is a chest full of beer, some corn chips and the occasional change of clothes...
 |
| Taken last night. Vs unmasked! |
And here you guys were thinking that i was a man of great sophistication....
VS
Saturday, March 24, 2012
Expert witness shipbroking / shipchartering / maritime operations
One interesting part of the growing VS shipping consultancy business is the requests i have had either to be, or to provide, and expert witness for some commercial shipping disputes.
I am anonymous so a i cannot partake but I have been able to help out a small handful of lawyers by pointing them in the right direction.
So here is a bit of a call to the bulk shipping experts out there...
If you have excellent deap sea / commerical knowledge and fancy yourself as an expert in your field then drop me a line and i will put you on my database and you never know you might get some work.
So if you are a shipbroking, chartering, operational expert just about anywhere in the world send and email to virtualshipbroker@yahoo.com
Dry Cargo, Tankers, Off Shore, SNP, Derivatives ....backgrounds all wlecome to register..
Not only must you be a proven expert but your honesty and integirty should be without question...
Oh...and if you are a maritime lawyer in need of an expert you know your first port of call...Right Here!
Cheers
The Virtual Shipbroker
I am anonymous so a i cannot partake but I have been able to help out a small handful of lawyers by pointing them in the right direction.
So here is a bit of a call to the bulk shipping experts out there...
If you have excellent deap sea / commerical knowledge and fancy yourself as an expert in your field then drop me a line and i will put you on my database and you never know you might get some work.
So if you are a shipbroking, chartering, operational expert just about anywhere in the world send and email to virtualshipbroker@yahoo.com
Dry Cargo, Tankers, Off Shore, SNP, Derivatives ....backgrounds all wlecome to register..
Not only must you be a proven expert but your honesty and integirty should be without question...
Oh...and if you are a maritime lawyer in need of an expert you know your first port of call...Right Here!
Cheers
The Virtual Shipbroker
Laden legs or short period
Ok a interactive question for the readers..
One of my students is trying to get his head around the following problem
A charterer is asking the market for a ship basis 2 or 3 laden legs
the question is
Why does a charterer ask for 2/3 laden legs and why not just ask for short period?
I have a feeling that i am gonna have to explain this more....but please if you know the anser have a go!
One of my students is trying to get his head around the following problem
A charterer is asking the market for a ship basis 2 or 3 laden legs
the question is
Why does a charterer ask for 2/3 laden legs and why not just ask for short period?
I have a feeling that i am gonna have to explain this more....but please if you know the anser have a go!
Thursday, March 22, 2012
When less is more
Had a meeting recently where as a third party i was able to sit back and watch the courting process from a fairly unbiased position.
Unfortunately for one of my principals, during the course of the informal meeting, it became apparent that, how can i say this tactfully.......i can't. Basically he just couldn't (or wouldn't) SHUT UP!
In an effort to push his business he forgot to listen to the client.
I have a general rule. If i go to a meeting and I have talked more than the client then i know its been a failure. A failure for many reasons...
1. Clients like to be heard and they, like most people like the sound of their own voices. If they are the client then that is their right!
2. If I have talked too much the chances are that in my excitement I have actually "failed to listen". Terrible outcome when as a service provider I am trying to understand the clients problems. And clients don't always TALK verbally....they communicate by the way they stay silent, move their hands, move their eyes, and by the way they sit...
For me I try to look out for all those clues. And in truth this is a skill that has helped me read situations that others fail to understand.
3. Generally if I talk too much I say the wrong thing! Eventually anyway..
So whats the moral here...
ITS NOT ABOUT ME (AND YOU)!!!! (its about the client)
Cheers
VS
Unfortunately for one of my principals, during the course of the informal meeting, it became apparent that, how can i say this tactfully.......i can't. Basically he just couldn't (or wouldn't) SHUT UP!
In an effort to push his business he forgot to listen to the client.
I have a general rule. If i go to a meeting and I have talked more than the client then i know its been a failure. A failure for many reasons...
1. Clients like to be heard and they, like most people like the sound of their own voices. If they are the client then that is their right!
2. If I have talked too much the chances are that in my excitement I have actually "failed to listen". Terrible outcome when as a service provider I am trying to understand the clients problems. And clients don't always TALK verbally....they communicate by the way they stay silent, move their hands, move their eyes, and by the way they sit...
For me I try to look out for all those clues. And in truth this is a skill that has helped me read situations that others fail to understand.
3. Generally if I talk too much I say the wrong thing! Eventually anyway..
So whats the moral here...
ITS NOT ABOUT ME (AND YOU)!!!! (its about the client)
Cheers
VS
Monday, March 19, 2012
It can't be? Can it?
As we all know the language of shipping is English. I for one can only speak English so i am lucky and in truth I greatly admire the many of you out there who are multilingual able to speak any number of the worlds great languages.
One of the by products of the English centric language of shipping is that many around the world Anglicise there indigenous names in order to make it easier for us westerners who have trouble pronouncing John let alone getting out tongues around Agyalka, Aaminah or Pavankumar.
Some people indeed take on entirely new 'western names" when entering the world of shipping.
This email just through from a shipping company in China - Enjoy
quote
Dear sir or Madam,
Glad to hear that you are on the makert of chemicals of DOP.We specialize in this field for several years,with high qulity and competitive price.
It's my honour to beon serve for you if possible,Sincerity hope to create a cooperation with you.
Best regards
Kobe Bryant
Nanjing Titan Chemicals Co.,Ltd
unquote
true story
Wait until ESPN hear about this
cheers
VS
Tuesday, February 28, 2012
"About Shipbroking Ltd" - real or a interesting experiment?
An Interesting development in the world of Shipbroking? Or just another entrepreneurial idea. I usually wouldn't touch this topic but a few people have contacted me asking my advice regarding the terms and conditions (if you can call them that) for a proposed new shipbroking company intent on world domination. They are currently advertising in tradewinds and they go by the name of "About Shipbroking Ltd"
here is the crux of the idea / proposal
(what they are sending potential employees by email without proper vetting)
1. They are looking to revolutionise shipbroking
2. They intend to be the largest shipbroker in the world across all markets
3. There is no salaries
4. You do all the work locally but hand over between 15-30 pct of commission to the parent company
5. In return they let you use their brand name and use their computer systems and back up staff
6. They domicield in the shipping tax haven of Greece
7. No mention of company structure or set up of management and how much control they do or do not exert
8. Bonus and share shcemes that reward loyalty and performance
9. They plan to hit the gound running 1st May 2012
This section is quite interesting
qte
DESCRIPTION OF EMPLOYER’S AND EMPLOYEE'S DUTIES
Subject to the supervision and pursuant to the orders, advice, and direction of employer, employee shall perform such duties as are customarily performed by one holding such position in other businesses or enterprises of the same or similar nature as that engaged in by employer.
Duties to be split as follows:
Employer Employee
Position database update. Chartering or S&P.
Post fixture service.
C/P issuing.
Phone transfers.
Each party to provide and pay for the following:
Employer Employee
Office in Greece. Local office (or work from home).
Fast internet connection in Greece. Fast internet connection locally.
System server in Greece. Laptop or PC.
Phone expenses in Greece. Phone expenses locally (SKYPE).
Shipbroking software. Local taxes on compensation.
Travel and representation expenses Pensions and health insurance.
for shipbroker dinners or big events Travel and representation
representing the company, always expenses for local or own client visits
subject to management approval.
If these above main terms involved can be of your interest, then please indicate your firm interest latest ........... 2012 in order that our new appointed managing director then can email you the full contract terms.
Best regards
Torben Jensen
Board member About Shipbroking LTD
unqte
So my read on this situation is as follows
A few shipping entrepreneurs with an idea and some cash have the following idea which for the boss's means very little ongoing work but the promise of passive cashflow moving forward.
1. Set up an office in the tax free haven of Greece
2. Employ 3 or 4 admin staff, rent a nice but small office
3. Invest in a fairly good shipbroker software package, servers etc
4. Convince brokers that there is a benefit from using said companies name, share info resources and back office staff
5. The tempting bit is there is not investment needed
6. The less than interesting bit is that brokers are basically working for commission only and if they do fix they need to give about shipbroker between 10 and 30 percent
7. Shipbrokers pretty much on their own in terms of cost, travel, training etc.
Look - my first impression is that this idea is quite interesting but then i realised a few things
1. this is pretty much a commission only deal where you keep most of it but you also do most of the work
2. How will the parent company split geographic and market regions. What if I choose say Singapore and another 10 people also want Singapore?
3. How will the standard of service / ethics / training be monitored? Companies run on reputations. If anyone can become a rep in an area how can i be sure the companies reputation will not be sullied and will not effect my business?
4. How will these guys in head office stop internal competition. Anyone in the markets should ask Platou or Clarksons or SSY how easy it is to get keep nice relationships between their own offices? This is not easy as they all compete for a limited amount of business...
5. A problem for About Shipbrokers is how do they stop brokers fixing outside their computer platform ie they use the About Shipbroker name to market their business and then when a lucrative client comes along they set up a separate email system and fix without About Shipbrokers being aware?
6. How does about shipbrokers stop brokers taking all the info, all the big clients and just leave when it suits them?
7. Who are "About Shipbrokers"? The name Torben Jensen is a famous shipping name but who are the backers and the other board members? Is this the Armada, clipper Torben or someone else??
There are many more questions here....the reason i know these issues is because I've thought about starting something similar under the VS banner but came to realise that the idea would be out of control pretty quickly.
Leading shipbrokers work very hard to guard reputations and create business's. They also reward employees with proper salaries not commission only deals. If you really want autonomy start your own business and keep all the spoils
The idea imo is a little bit too clever and lacks substance.
......thats my take anyway - Maybe we should call them ABOUT FACE SHIPBROKING...speak to the hand!
Cheers
VS
here is the crux of the idea / proposal
(what they are sending potential employees by email without proper vetting)
1. They are looking to revolutionise shipbroking
2. They intend to be the largest shipbroker in the world across all markets
3. There is no salaries
4. You do all the work locally but hand over between 15-30 pct of commission to the parent company
5. In return they let you use their brand name and use their computer systems and back up staff
6. They domicield in the shipping tax haven of Greece
7. No mention of company structure or set up of management and how much control they do or do not exert
8. Bonus and share shcemes that reward loyalty and performance
9. They plan to hit the gound running 1st May 2012
This section is quite interesting
qte
DESCRIPTION OF EMPLOYER’S AND EMPLOYEE'S DUTIES
Subject to the supervision and pursuant to the orders, advice, and direction of employer, employee shall perform such duties as are customarily performed by one holding such position in other businesses or enterprises of the same or similar nature as that engaged in by employer.
Duties to be split as follows:
Employer Employee
Position database update. Chartering or S&P.
Post fixture service.
C/P issuing.
Phone transfers.
Each party to provide and pay for the following:
Employer Employee
Office in Greece. Local office (or work from home).
Fast internet connection in Greece. Fast internet connection locally.
System server in Greece. Laptop or PC.
Phone expenses in Greece. Phone expenses locally (SKYPE).
Shipbroking software. Local taxes on compensation.
Travel and representation expenses Pensions and health insurance.
for shipbroker dinners or big events Travel and representation
representing the company, always expenses for local or own client visits
subject to management approval.
If these above main terms involved can be of your interest, then please indicate your firm interest latest ........... 2012 in order that our new appointed managing director then can email you the full contract terms.
Best regards
Torben Jensen
Board member About Shipbroking LTD
unqte
So my read on this situation is as follows
A few shipping entrepreneurs with an idea and some cash have the following idea which for the boss's means very little ongoing work but the promise of passive cashflow moving forward.
1. Set up an office in the tax free haven of Greece
2. Employ 3 or 4 admin staff, rent a nice but small office
3. Invest in a fairly good shipbroker software package, servers etc
4. Convince brokers that there is a benefit from using said companies name, share info resources and back office staff
5. The tempting bit is there is not investment needed
6. The less than interesting bit is that brokers are basically working for commission only and if they do fix they need to give about shipbroker between 10 and 30 percent
7. Shipbrokers pretty much on their own in terms of cost, travel, training etc.
Look - my first impression is that this idea is quite interesting but then i realised a few things
1. this is pretty much a commission only deal where you keep most of it but you also do most of the work
2. How will the parent company split geographic and market regions. What if I choose say Singapore and another 10 people also want Singapore?
3. How will the standard of service / ethics / training be monitored? Companies run on reputations. If anyone can become a rep in an area how can i be sure the companies reputation will not be sullied and will not effect my business?
4. How will these guys in head office stop internal competition. Anyone in the markets should ask Platou or Clarksons or SSY how easy it is to get keep nice relationships between their own offices? This is not easy as they all compete for a limited amount of business...
5. A problem for About Shipbrokers is how do they stop brokers fixing outside their computer platform ie they use the About Shipbroker name to market their business and then when a lucrative client comes along they set up a separate email system and fix without About Shipbrokers being aware?
6. How does about shipbrokers stop brokers taking all the info, all the big clients and just leave when it suits them?
7. Who are "About Shipbrokers"? The name Torben Jensen is a famous shipping name but who are the backers and the other board members? Is this the Armada, clipper Torben or someone else??
There are many more questions here....the reason i know these issues is because I've thought about starting something similar under the VS banner but came to realise that the idea would be out of control pretty quickly.
Leading shipbrokers work very hard to guard reputations and create business's. They also reward employees with proper salaries not commission only deals. If you really want autonomy start your own business and keep all the spoils
The idea imo is a little bit too clever and lacks substance.
......thats my take anyway - Maybe we should call them ABOUT FACE SHIPBROKING...speak to the hand!
Cheers
VS
Tuesday, February 21, 2012
Interesting dialogue from another thread
This reader has hit a minor jackpot. Only confirms to me that there is lots of scope for people to start shipbroking business's. But one needs to do it properly. Not only does a shipbroker need to be professional and uphold industry standards, a new shipbroker needs to know how to survive and prosper. One or two bad mistakes and you will end up back on a ship (at a bank, at McDonalds or wherever you worked pre shipbroker)
AnonymousFeb 20, 2012 12:33 PM
Hi VS... excellent blog
I want to confirm whether the ship broker should gets his commission only from the ship owners or from cargo owners as well.. pls clarify
ReplyDelete
The Virtual ShipbrokerFeb 20, 2012 01:04 PM
Hi
Shipowners pay commission. It is the shipowners cost..
BUT you can ask charterers to deduct the commission from hire payment (payment they make to shipowners) and the chargterers remit the funds to the broker instead...
does this make sense?
ReplyDelete
AnonymousFeb 20, 2012 11:08 PM
Hi VS... thank you so much for your reply. I'm a master mariner,and i have my relative working for a cargo owner. They wanted to hire a ship for their goods and I helped them to find a ship owner. The ship owner promised me a 1.25% commission because I'm the middle man. Do I call myself as a ship broker??? Should i open a new company????? What are the risks involved as a ship broker. I'm doing this to this help my relative and I don't want to get into trouble.
ReplyDelete
The Virtual ShipbrokerFeb 21, 2012 12:26 AM
Congratulations on finding yourself in the middle of a lucrative deal. And yes you got it....you are now a shipbroker!
First point of call. Buy my books...all 3 - im not kidding. And then once you have read them then we can talk. Shipbroking is lucrative but risky especially if you dont understand what you are doing. I consult many companies exactly like what you may be able to start now, and help them (at very little cost) create amazing business's. Well done, good luck and keep in touch!
VS
End story
AnonymousFeb 20, 2012 12:33 PM
Hi VS... excellent blog
I want to confirm whether the ship broker should gets his commission only from the ship owners or from cargo owners as well.. pls clarify
ReplyDelete
The Virtual ShipbrokerFeb 20, 2012 01:04 PM
Hi
Shipowners pay commission. It is the shipowners cost..
BUT you can ask charterers to deduct the commission from hire payment (payment they make to shipowners) and the chargterers remit the funds to the broker instead...
does this make sense?
ReplyDelete
AnonymousFeb 20, 2012 11:08 PM
Hi VS... thank you so much for your reply. I'm a master mariner,and i have my relative working for a cargo owner. They wanted to hire a ship for their goods and I helped them to find a ship owner. The ship owner promised me a 1.25% commission because I'm the middle man. Do I call myself as a ship broker??? Should i open a new company????? What are the risks involved as a ship broker. I'm doing this to this help my relative and I don't want to get into trouble.
ReplyDelete
The Virtual ShipbrokerFeb 21, 2012 12:26 AM
Congratulations on finding yourself in the middle of a lucrative deal. And yes you got it....you are now a shipbroker!
First point of call. Buy my books...all 3 - im not kidding. And then once you have read them then we can talk. Shipbroking is lucrative but risky especially if you dont understand what you are doing. I consult many companies exactly like what you may be able to start now, and help them (at very little cost) create amazing business's. Well done, good luck and keep in touch!
VS
End story
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