Tanker Broking
Tanker brokers specialize in the chartering of Tankers, which requires different skills and knowledge from Dry cargo broking. Tanker brokers may specialize in crude oil, gas, oil products or chemical tankers.
Tanker brokers negotiate maritime contracts, known as Charter Parties. The main terms of negotiation are freight/hire and demurrage.
Oil being a fast moving trade, freight rates for crude oil tanker charters are most commonly based on the Worldscale Index; the Worldscale Association publishes flat rates annually.
Some specific voyages, such as named voyages (i.e., from A to B) and for specialist ships, like LNG tankers (a highly specialized sector of the tanker market), freight rates can be agreed at a fixed rate between the parties.
Read more about this topic: Shipbroking