How To Identify A Reliable Offshore Vessel Broker

Offshore Vessel Companies

An offshore vessel broker is an intermediary between a ship owner and those who want to use a vessel for any offshore tasks. The broker’s job ranges from getting passengers for a ship to getting cargo for it. They are also selling and buying vessels, and even dealing with everything that is concerned with the transportation of commodities and goods on the sea. 

In addition, the offshore vessel companies are responsible for the preparation of an insurance policy, permits for debarking, and embarking of the ship to name a few.

Broker Is Agent for Vessel Charters

Moreover, a vessel broker is an agent for ship charters and sales. They are a conduit between a ship owner and a hirer, and even between a seller and a buyer. Consequently, they are involved in every step of the deal, right from the start to the end. 

These broker services are the ones who will market the business to the clients, and negotiate the contract terms as an agent of the owner. Also, finalize the deal, up to the conclusion of the sale or charter. They even provide professional counseling services for those who are looking to charter or buy a vessel.

An offshore vessel broker may be required to work for long hours. Particularly, if they are yet to have a reliable client base. As a matter of fact, they may be required to work on weekends or during public holidays. 

Anyways, there is no special qualification required to become a broker. However, there are certain institutions conducting formal education for those who desired to become vessel brokers.

What Qualities to Check In a Broker?

The offshore vessel companies you are assessing should be trustworthy, hardworking, experienced, and, more than anything, professional. Anyone looking for a vessel broker must try to find one with a reputation in order to have access to the best deal available. 

There are several areas of specialization for a ship broker. They can opt to be a ship owner’s broker, a charter broker, or even a cable broker.

A vessel owner’s broker is tasked to look for cargo or charter, for a vessel. They will be more focused on getting the best deal for the ship owner; since that is where their commission comes from. 

On the flip side, a charter broker deals with cargo owners and makes all the effort. To get the lowest rate for them. 

A cable broker works for no one in specific. They are interested in getting the best deal for anyone who contacts them, from a ship owner to a user. That being said, a cable broker must be very knowledgeable, about the operations of the shipping industry. Which includes the classification and technicalities of vessels.

The Nutshell

The owner or seller of a vessel needs to look for the service of a commercial vessel broker in order to, secure the best price. A buyer or hirer should furthermore avoid paying too much for a deal by hiring the services of a vessel broker. In a nutshell, a broker of offshore vessels should be one with integrity and a good track record.

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