The Shipbroking Sector
Shipbroking is an intermediary function that exists in various maritime transactions, such as in the sale and purchase of a vessel or the chartering of seaborne transport for cargoes. It is therefore an integral and crucial part of the international shipping infrastructure.

In the sale and purchase of existing vessels or newbuildings, the shipbroker is the middleman who finds a vessel which fits the buyer’s needs, while also negotiating to ensure that the seller’s requirements are also met. The chartering aspect of shipbroking requires the shipbroker to interface between shipowners and ship charterers to ensure that cargoes that require seaborne transport have space on a ship’s voyage, or that a ship leaving for another port has cargo to transport so that the trip is not wasted.

However, as the maritime industry evolves and becomes more complex and sophisticated, shipbrokers have also reinvented their business strategies. Increasingly, shipbrokers are venturing beyond their traditional roles to also provide their clients with a wide range of market intelligence and new service offerings such as freight derivatives broking, shipping finance, consultancy and research etc.  In Singapore, shipbrokers are an important group of players in the SGX AsiaClear, Asia’s first Over-The-Counter (OTC) clearing facility for the trading of oil swaps and shipping derivatives.

Riding on the worldwide increase in trade and a shift in business towards the East, there has been an increase in the number of international shipbroking companies establishing offices in Singapore to take advantage of the opportunities in the region. Today, there are more than 60 shipbroking firms in Singapore, both local and international. 

Useful links:
- Institute of Chartered Shipbrokers, Singapore Branch www.ics.org.sg
- Singapore Shipping Association www.ssa.org.sg
- For a list of Ship Broking companies in Singapore, please see: http://www.singaporemaritimeportal.com/smp/jsp/SMP_secCoList.jsp?sec_c=7&group_c=1