Chartering broker

A chartering broker is the intermediary who fixes cargoes and ships, matching charterers seeking tonnage with owners seeking employment for their vessels. The broker negotiates the freight or hire rate, the laycan, and the charter party terms, then circulates the recap and drafts the fixture on a form such as GENCON, NYPE, or BALTIME. Brokerage commission is typically 1.25 percent of freight, deadfreight, and demurrage, deducted at source from each payment, and a fixture often carries brokers for both owner and charterer. Competitive brokers also supply market intelligence and position lists that price the trade.