How Shipping Broker Companies Basically Function in India?

Nov 20
08:26

2015

Arun Nagpal

Arun Nagpal

  • Share this article on Facebook
  • Share this article on Twitter
  • Share this article on Linkedin

Whether you hire cargo handling services in Mumbai or shipping broker companies in Mumbai, always choose a reputed company for quality services.

mediaimage

Shipping brokers are responsible for transporting goods by sea. They also handle the buying and selling of ships on behalf of their clients. When you hire a ship broker company to have your goods freighted by a ship,How Shipping Broker Companies Basically Function in India? Articles it will act as an intermediary between you and the ship owner, handling all aspects of the transportation.

When it comes to buying and selling of ships, there are several shipping broker companies in Mumbai to choose from. In this context, the broker is responsible for dealing with the fine details of the transaction between the buyer and seller. They get involved in the negotiation so as to ensure that both the parties are awarded a fair price. Broker companies also draw the contract and handle the legal formalities regarding the ship’s sale and purchase.

Choose a Reliable Shipping Broker

Make sure you choose a reputed company for this type of transaction because they have experienced brokers who have legal qualifications and training to handle these activities in a professional manner. Some shipping broker companies have departments that specialize in different shipping sectors such as Tanker Chartering, Dry Cargo Chartering, Container Chartering, Demolition and even Sale & Purchase.

What Shipping Brokers Do?

Brokers involved in Sale & Purchase mainly handle the buying and selling of vessels in second hand market or contract new ships. They discuss market trends with charterers, ship owners, bankers and investors and also report on vessel values, market sales and trends. If you are a ship owner planning to buy or sell a vessel, you can hire ship brokers who will scour the market for buyers or suitable sales options. They will also negotiate the price of the vessel on your behalf and handle the logistical details for the title transfer.

As far as dry cargo broking is concerned, brokers are involved in maintaining large database of vessel positions, cargoes and rates. Since they are aware of the changes in the market, they advise their clients accurately, helping them minimize expenses and maximize profits. Tanker brokers handle chartering of tankers, specializing in oil products, crude oil, chemical tankers and gas.

Compared to dry cargo broking, tanker brokers possess a different skill set. Under container broking, brokers are responsible for specializing in container ship chartering. They also provide market-related information to charterers and container ship owners.

There are several companies that offer ship broking as well as cargo handling services in Mumbai. Cargo handling is mainly the loading, unloading, packing as well as unpacking of cargo. When you hire a cargo handling company, you will get access to a team of experts who will ensure quick and safe services. Only a reputed cargo handling company will ensure the safety of your goods as well as their staff. For instance, if the cargo contains chemicals, the company needs to make sure that the necessary safety measures have been taken. From proper ventilation of the tank to arrangement of firefighting equipment, every aspect should be handled professionally.