Shipbroker Selection Criteria; Viewpoint of Charterers in Dry Bulk Shipping

Examensarbete för masterexamen

Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.12380/149677
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Type: Examensarbete för masterexamen
Master Thesis
Title: Shipbroker Selection Criteria; Viewpoint of Charterers in Dry Bulk Shipping
Authors: Balci, Gökcay
Abstract: The main purpose of this study was to explore shipbroker selection criteria of charterers in dry bulk voyage chartering. Other supportive objectives of the study were to understand the role of shipbrokers in dry bulk voyage chartering, expectations and complaints of charterers, reasons behind why charterers work via shipbrokers and to make recommendations to shipbrokers for future. Interviews were done with three shipbrokers from two dry cargo shipbroking companies and two chartering manager, one is from iron and steel while the other is from a coal trading company. Nine criteria were found out that charterers assess when selecting a broker to charter a vessel. “Trustworthiness and reputation” is the most important criterion and if the broker has a bad reputation charterers do not even consider other criteria. It was found out that “ability to find lower freight rates”, “ability to find suitable vessel in due time”, “negotiation skills“ and “service quality during post-fixture” are very important. However, lower freight rates and suitable vessel in due time were prioritized than other two. “Information and advisory services” and “cargo expertise” are regarded important criteria but not as important as preceding criteria. Finally “geographical expertise” of a broker and “communication availability” may be considered as well should previous criteria are satisfied by more than one broker. It was observed that expectation of charterers from brokers and reasons why they work with brokers depend on whether they have a professional chartering department or not. Shipbrokers offer more comprehensive services today with comparison to twenty years ago. It was also figured out that some traders with expert chartering department skip brokers and make direct business with owners. Most common complaints of charterers are deceptive brokers and brokers which do not follow-up the chartering operation and do not pay sufficient attention. Shipbrokers should understand and consider needs, expectation and dissatisfaction of charterers for surviving in the market. They must develop their network for competitive freight rates and focus on advisory services more for investment decision of charterers.
Keywords: Transport;Information Technology;Transport;Informationsteknik
Issue Date: 2011
Publisher: Chalmers tekniska högskola / Institutionen för sjöfart och marin teknik
Chalmers University of Technology / Department of Shipping and Marine Technology
URI: https://hdl.handle.net/20.500.12380/149677
Collection:Examensarbeten för masterexamen // Master Theses



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