The Roles and Responsibilities of a Ship Broking Company

A ship broking company may not always be under the spotlight, but it acts as a mediator between the demand and supply of the shipping services, act as an efficient and responsible middleman in the transaction of selling and purchasing vessels, reorder deals, buying and -selling of new and used vessels. Such activities are dependent mainly on efficient information gathering process. Nevertheless to say that this innovative way of information gathering from efficient ship brokers has revolutionized the business to a great extent.

Ship Broker Companies in Norway

  • Efficient data handling

It is not behind the curtains that personal contacts play a crucial role. Proper handling of documents and data are of major concern to a reliable broker. In the process of fixing a deal, the broker presents all available opportunities and alternative choices in a short notice to the buyer. Reversely, the broker is also responsible for identifying all the info related to the vessels’ characteristics, location etc. Selling a vessel also requires compilation of technical data, which is looked after by the ship broking firm. They identify potential buyers and keep updated records.

  • Trustworthy source of Information

A ship broking firm is usually considered as the “eyes and ears” of the buyers and sellers of vessels. The talented brokers keep a track of the shipping market very closely. Availability of the ship; its demand in the market; port position; contract concluded or failed, economic situation, government policies and several other legal aspects are closely monitored to smooth out the vessel selling and buying procedure. Along with physical networking, few ship broker companies in Norway have also embraced social media networking to expand their reach; provide richer information and more variety of vessels for purchasing and selling.

  •  Keeping updated info on market trends

There are various segments in this industry. The information and data needed to analyze the market trends for separate segments is not an easy task. The condition of the market also depends on economic scenario, climate factors, prices of oil, good or bad harvest, governmental regulations, and so on. By keeping information of all these segments under one roof, a broker reduces your hassles and worries. The brokers have their database spread across a huge range of parameters to give correct and significant info to his clients.

As per the sources, a good many number of cruise vessles, day, night, RoRo/RoPax and high ferries for sale and purchase are available at present.

  • A dispute resolver

If there is a business deal, it is not very uncommon to involve in a dispute. Although, every contract has a dispute resolution procedure, the parties involved in the contract seek help from the intermediaries to foresee possible dispute areas and initiate corrective measures. As the ship brokers forms a good rapport with the owner, they can find out formulas to offer solution to the disputes.

Hope this blog helps you find the right ship broking company to get the best deals.


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