Market Reporting

As with many professions, it is of little use learning a large amount of information and expertise if you are unable to communicate this knowledge to a third party. The whole basis of a Shipbroker’s working life is based on the giving of information and advice and, whilst a certain amount can be done verbally, a great deal of communication is in writing. Consequently, all those engaged in shipping, and Shipbrokers in particular, must gain experience and ability in the preparation of written reports to their principals and seniors. Some will concentrate on a relatively small market sector – perhaps designed to provide data on the shipment of a particular commodity, ship type or size, or geographic region, reporting fixtures, available cargoes, trading deals, market gossip, etc. Other reports will be of a general nature, intending to illustrate in overall terms the state of the freight market. One such example, is that provided by London Brokers, Galbraith Limited, wherein the dry-cargo Panamax, Cape-size and handy-size markets are reported upon briefly together with relevant reported fixtures, the weekly report designed for mailing to various clients, not one in particular. One of the fascinations of the international dry-cargo freight market is that one can see in day to day trading activities the effects of far-off political and climatic events affecting the demand for ships and for cargo-space and, consequently, freight rates. A worldwide depression in trade will ultimately have its effect on the shipping market and ships will lay-up for want of profitable employment. On the other hand, a buoyant freight market will result from active trading and there might be too few ships to satisfy demand, leading in turn to high freight income for those Shipowners/Operators fortunate enough to be in an infinite variety of adjustments to small market sectors, and particular trading areas at particular times.