Definition

Noun: An agent who acts on behalf of a ship's owner. The primary role of a ship broker is to secure cargo for the vessel and may also arrange for the logistics of loading or discharging that cargo. They facilitate commercial transactions in the shipping industry.

Usage

A ship broker acts as an intermediary. They negotiate between ship owners and charterers (those who need to transport cargo) to fix vessels for voyages or periods of time. Their work is central to the chartering market.

Examples

• The ship broker successfully negotiated a contract to transport grain from the US to Asia.
• As a seasoned ship broker, her expertise was in finding cargoes for bulk carriers.
• The owner hired a ship broker to find a suitable charter for the idle vessel.

Advanced Usage

• Chartering Broker: A type of ship broker specializing in negotiating the hire of a ship (a charter party).
• Sale and Purchase Broker (S&P Broker): A broker who specializes in the buying and selling of ships themselves, rather than cargo. This is a distinct but related specialization within brokering.

Variants and Related Words

• Brokerage (n): The business or commission of a broker.
  • He runs a successful ship brokerage in London.
• Charterer (n): The party who hires the ship from the owner, often through a broker.
• Agent (n): A broader term for someone who acts on behalf of another; a ship broker is a specific type of maritime agent.

Synonyms

• Maritime broker
• Chartering agent
• Shipping agent (Note: This can sometimes have a broader meaning, including port agency services.)

Related Phrases

• To fix a ship: The act of a broker successfully concluding a charter contract.
  • The broker worked all night to fix the ship on favorable terms.
• Charter party: The contract between the shipowner and the charterer, arranged by the broker.

Noun

1. an agent for the ship owner; obtains cargo and may arrange for its loading or discharge