Shipbroking

Question 1

Shipbroker

Answer 1

Shipbrokers are specialist intermediaries/negotiators (i.e. brokers) between shipowners and charterers who use ships to transport cargo, or between buyers and sellers of vessels.

Question 2

What is a ship’s agent?

Answer 2

It is a person who takes care of the interests of a ship while it is in port.

Question 3

S&P BROKERS

Answer 3

Sale and Purchase brokers are shipbrokers that specialize in the buying and selling of new and used ships. As an S&P broker you work, in an international market which is extraordinarily volatile and subject to huge swings. The S&P broker has to know the market, be able to advise their clients on the market’s probable direction, and must a good knowledge of ships and their owners.

Question 4

Marine Insurance Broker

Answer 4

A marine insurance broker is an intermediary acting under the law of agency for a client, who negotiates a marine insurance contract.

Question 5

Bunker Broker

Answer 5

The principle role of a bunker broker is to facilitate the transactions between a bunker supplier and the ship owner.

Question 6

Underwriter

Answer 6

Underwriter or insurer is the person who provides marine insurance for ships, cargoes and other risks.

Question 7

Average Adjuster

Answer 7

An avarage adjuster is a professional person who is widely experienced in the adjustment of marine losses, particularly losses affecting ships.

Question 8

Jettison - General Avarage

Answer 8

For example, a ship with a cargo on deck has list and is in danger of being sank. The master throw part of the cargo overboard in order to return the ship to its normal position.

Question 9

Arbitrator

Answer 9

Person proposed for settlement of shipping disputes arising from the contract .

Question 10

Shipyard

Answer 10

Shipyard is a place where ships are built or repaired.

Question 11

Building a new ship

Answer 11

Parts of a ship which are put together for building a new ship.

Question 12

Global Shipping Industry (2018)

Answer 12

Rank Country

South Korea
China
Japan

Question 12

Global Shipping Industry (2018)

Answer 12

Rank Country Gross Tonnage (gt)

South Korea 49,600,000
China 43,900,000
Japan 13,005,000
Others 5,000,000

Question 13

Marine superintendent

Answer 13

A marine superintendent is responsible for the management of a marine vessel, a fleet or a marine based location such as an oil rig. The superintendent must oversee day-to-day operations and is responsible for hiring personnel. Typically, the marine superintendent reports to a director of operations or a general manager.

This individual works to ensure that all safety regulations are followed. Additionally, the marine superintendent has to oversee the installation of new machinery and equipment and make sure that everything on a boat or rig is in working order. Although the superintendent may task other individuals with conducting safety and compliance checks, the superintendent is ultimately responsible for these areas of operation. When safety policies or procedures are altered, the superintendent must communicate updated procedural information to employees.

Question 14

Surveyor

Answer 14

He is a competent person with the knowledge and the skill to carry out a survey of the property which is the subject of the survey.

Question 15

Embassy

Answer 15

Embassies are generally the primary diplomatic representation of one country in another. They are usually located in the capital city of a host territory.

An embassy is usually the main point of contact between two governments and is overseen by an ambassador, who has been appointed as the chief spokesperson for their country in the host territory.

Question 16

Consulate

Answer 16

While most governments have established at least one embassy in a foreign country, they may not always have consular offices in that territory. Consulates are usually established as extra diplomatic representation in larger countries, in cities outside the capital that are key touristic, economic, or financial centers.

The main function of a consulate is to undertake administrative duties such as processing visas for citizens of their host territory, as well as providing information and guidance about immigration processes.

Question 17

Lawyers’ office

Answer 17

A Maritime Lawyer is a person who is specialized in that branch of law which specifically deals with the aspect of marine industry on the whole.

Question 18

Ship supplier or shipchandler

Answer 18

A ship chandler is a person (or sometimes a group/agency) that totally deals in supplying required commodities for a shipping vessel and its crew. They work somewhat similar to the grocer, who supplies all the required food grains to households. A ship chandler supplies all the necessary and requisite commodities to a ship when at port.