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Tanker brokers specialize in the chartering of tankers, which requires a different set of skills, knowledge and contacts from dry cargo broking. Tanker brokers may specialize in crude oil, gas, oil products or chemical tankers. Tanker brokers similarly negotiate maritime contracts, known as charter parties.
Headquartered in Toronto, Ontario, Canada, with U.S. headquarters in Chicago, Livingston has over 3,300 employees located at more than 125 border points, seaports, airports and other locations across in North America, Europe and Asia. Livingston is currently Canada's largest customs broker and third-largest in the United States. [1] [2]
Farrow, legally known as Russell A. Farrow Limited., [1] is an independently owned customs brokerage in North America. [2] Established in 1911, it has 29 offices and warehousing locations throughout Canada, the US, Europe and Asia. [3]
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from French charte partie 'parted document').
Co-brokering is a legal practice used to ensure there is an available truck to transport freight. A 4PL may use a 3PL broker to match loads with trucks, with a shippers knowledge. The primary broker will take a lesser amount of the fee and the secondary broker will book the load for transport receiving a larger share of the same fee. [7]
The Institute of Chartered Shipbrokers (ICS) is a professional and learned society for all members of the commercial shipping industry worldwide. After being founded in 1911 in London, the ICS was granted a Royal Charter in 1920. [2] The Institute is the only internationally recognised professional body in the commercial maritime arena. [3]
The maiden voyage of the new tanker system was made on board the Freddy. This was the prototype for the "parcel tanker", a further development on the idea by Stolt-Nielsen. [2] Stolt-Nielsen leveraged his invention into his work as a ship broker, [3] and in 1959 Stolt-Nielsen officially became a ship owner with his purchase of the Stolt Avance. [4]
The company became the world's largest tanker broker in 1929 when Esso appointed Clarksons as its exclusive shipbroker. [7] The first overseas office opened in New York City in 1954. Offices soon followed in France, Australia and Germany, and in the 1960s, South Africa and Greece. [7]
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