WHAT IT IS
The Shipbroker acts as an intermediary between two parties in the shipping industry. There are two types of Shipbrokers- Chartering Brokers and Sales and Purchase Brokers.
A Chartering Broker acts as an intermediary between charterers and cargo owners, whose key role is to arrange the transport of goods and commodities by sea, and the employment of vessels for that purposes. He/She monitors freight, ship hire and cargo rates and analyses reports on sales and freight earnings to monitor the business’ key performance indicators and results.
A Sales and Purchase Broker acts as an intermediary between buyers and sellers of ships and is responsible for overseeing the sale and purchase of ships on behalf of clients. He/She assesses the viability and risks of pursuing new business opportunities and analyses risk management data to highlight potential areas of concern to management.
Shipbrokers also proactively seek prospective clients and maintain a strong working relationship with existing clients and customers to ensure service standards are adhered to. They assess the viability and risks of pursuing new business opportunities by synthesising ideas, processes and data to make recommendations and highlight potential areas of concern to management.
Entry level Shipbrokers earn a monthly salary of about $3,000 per month. Due to the commission-based remuneration structure, good Shipbrokers with two to three years of experience earn a monthly salary of about $6,000 per month.
*Salary data based on industry surveys conducted by Maritime and Port Authority of Singapore (MPA) for reference only. Actual salaries may differ due to market conditions and company/organisation policies.
WHAT IS REQUIRED
- A degree or diploma in any area of study, though a background in Shipping, Maritime Studies, Business, Economics and Logistics would have an advantage
- Excellent negotiating skills with a strong ability to influence people of all levels
- Strong people engagement skills to build a global network of contacts
- Strong commercial acumen and a professional code of conduct in handling confidential information
William Kuah Director and Head of Chemical Shipping at Eastport Maritime
After three years in industrial sales, William Kuah decided to make a career pivot to shipbroking. Today, he is the Director and Head of Chemical Shipping at Eastport Maritime. What has the journey over the past 27 years been like?
Find out more about his maritime journey here.
Emilie Teo Junior Offshore Broker at M3 Marine
Ms Emilie Teo shares about her vibrant and exciting working environment, the challenges, and how she began her career in the maritime industry.
“You should consider a maritime career as it is dynamic, exciting and varied. It evolves in response to global trade or events. You will learn how countries change their imports and exports to meet these changing needs. The industry is constantly in need of skilled personnel and such careers offer prospects of travel and attractive remuneration.”
Read more about her maritime journey here.
Sheryle Leong Chartering Broker at Gibson Shipbrokers Singapore
Ms Sheryle Leong forges bonds to build smooth-sailing relationships as a Chartering Broker at Gibson Shipbrokers Singapore.
“The thing that surprised me most about this job are the relationships I’ve built over the years. I never expected how much these would make a difference. When an issue arises, with good relations, it will definitely get solved quickly and more amicably,” she says.
Read more about her maritime journey here.
Ong Rong Seng Sales and Purchase Broker at Simpson, Spence and Young
Mr Ong Rong Seng shares about the need to keep up with trends in his job roles as a Sales and Purchase Broker at Simpson, Spence and Young.
“It’s important to study the market so that you understand the trends and traits,” he says, “Understanding the sector will definitely help you progress. Just like a housing agent needs to understand the market before being able to propose the ideal home for a buyer, I do the same thing for my clients.”
Read more about his maritime journey here.
FIND OUT MORE
Shipbroking Companies – Singapore Maritime Services Guide
Institute of Chartered Shipbrokers Singapore - About Institute of Chartered Shipbrokers Singapore
SkillsFuture - Skills Framework for Sea Transport