Who is a bunker broker ?

Bunker Broker

Bunker broker may be defined as a person who facilitates the transactions between Bunker supplier and the ship owner or ship charterer. A bunker broker plays very important role in shipping industry.

Role of a bunker broker

• As a bunker broker one must continually research the market and look for new opportunities to expand the business.
• Daily duties include active brokering/trading on behalf of clients ensuring optimum rates that benefit both the company and the client.
• In the event of any disagreements or claims, the Bunker Broker is required to manage any claims arising and assist with legal actions involving customers or suppliers.
• Developing new business is a key role of the Bunker Broker and so bunker broker will be someone who has a keen interest in the Marine industry and is able to carry out analysis and monitor demands around the world.
• As a Bunker Broker one will need to be organised and capable of maintaining CRM (customer relationship management) systems and good general administrative skills.
• As a Bunker Broker in Shipping a personal is also required to monitor customers’ payments and ensure late payments are chased.
• A Bunker Broker is required to negotiate rates with suppliers and so I have strong negotiation skills and a good understanding of the shipping industry.
• Negotiate between the buyers and sellers and assist in closing the transaction.
• Track market movements, analyse oil trends & keep up to date on financial news.
• As a Ship Bunker Broker you will be required to establish relationships with existing clients and suppliers to ensure their continued custom and maintain levels of income.
• Broker is required to prepare and process quotations, sales enquiries, sales confirmation and prepare contracts.
• As a Bunker Broker one may have to work outside of normal working hours and so a degree of flexibility is an advantage.

Key skills and qualifications of a Bunker Broker in Shipping:

• A bunker broker is required to have been educated to a high standard and may hold a degree qualification or equivalent.
• A bunker broker is required to have had previous experience in a Bunker Broker position in Shipping, or experience in brokering/trading in other markets may be acceptable.
• As a Bunker Broker you will need to be organised and capable of maintaining CRM (customer relationship management) systems and good general administrative skills.
• Bunker broker must be outgoing and have excellent communication skills, both written and verbal.
• A Bunker Broker must be numerate and be able to demonstrate an understanding of basic accounting and able to main accounting records.
• A Bunker Broker must be able to present information to clients in a concise manner and have a good sales technique.
• A Bunker Broker is required to negotiate rates with suppliers and so you must have strong negotiation skills and a good understanding of the shipping industry.
• A Bunker Broker must be able to work as part of a team and be able to support other team members as and when required.
• A Bunker Broker must be familiar with standard industry computer programs eg Microsoft Word, Excel, etc.
• A Bunker Broker must have understanding of oil reselling industry, in particular in-depth product knowledge.
• A Bunker Broker must be sales driven with strong negotiating skills
• A Bunker Broker must be Proactive Team Player with good attention to detail and great communication skills

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