Glossary

Broker

Tags: Glossary

An intermediary who arranges transportation or other services on behalf of a customer or client.

Who is a Broker?

In shipping, a broker is a person or a company that acts as an intermediary between buyers and sellers of goods, services, or transportation. Brokers provide a range of services, including negotiating contracts, arranging transportation, and providing logistics support. 

Shipping brokers can represent either the buyer or the seller of goods, depending on their role in the transaction. For example, a ship broker may represent a shipping company or vessel owner, helping them to find cargo to transport or negotiate contracts with shippers. Alternatively, a cargo broker may represent a shipper, helping them to find suitable vessels to transport their goods and negotiate favorable rates. 

 

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