The Covid-19 health crisis has caused widespread disruption around the world, bringing some market sectors to a near-halt and freezing thousands of planned hires across the international workforce.
As some countries begin to tentatively ease lockdown restrictions, what’s the outlook for job-seekers in the shipping and energy markets?
Have you built a reputation as a successful shipbroker and want a new challenge?
Check out these options that could be perfect for you:
Join a Principal
Shift in-house and work for a shipowner/charterer. One of the most sought-after career paths for experienced brokers. With limited S&P or chartering vacancies available in the market, you will need to have built a great relationship with your client base and may need to relocate to company HQ to stand the best chance of making this transition. Charterers are often promoted from operations teams within ship owning companies, and company management usually handles S&P activity for the more traditional family-run ship owning companies. Your best shot is to focus on principals with a fleet of 40+ vessels where there is a real need for someone with your expertise.
Sometimes the grass really is greener on the other side. With a variety of compensation packages, client account management processes, team cultures, and clear routes to leadership on offer in the market place, top-performing brokers are always in demand. If you can demonstrate a track record of being able to consistently transact, and have a valuable client network, you should have no problem securing a new position.
Maritime Technology Sales
Utilise your expansive network, sales, and relationships building skills and join the new wave of innovative, highly exciting tech start-ups or established trading platform providers. Fantastic commission structures on offer as well as equity packages worldwide. Be aware that software sales can be highly detail-driven, with average sales cycles between 3-6 months for larger deals. This could suit ex-sale and purchase brokers, or period/project brokers.
If you have a strong understanding of structured asset, debt, and lease financing within the shipping sector, you could add great value to a maritime bank, a private equity firm, commodity trader, or a shipowners M&A team. Not many opportunities in this space are available in the market so you may need an intermediary to help with some introductions.
At Cordell Beaumont, we have an expansive client base in all of the above categories and speak to a wide range of experienced shipbrokers every day. We welcome the opportunity to assist with your next career step and would be happy to discuss this in more depth over the phone.