+971 48247975   |   snp@itmshipping.com   |   Member of DSAA, FONASBA AND BIMCO

  |   Login

Our Services

ITM provides best in the world...


Our Services Info

ITM provides best service in the world.

Ships Sales & Purchase

That Shipping is an extremely important part of global trade and the world economy is self-evident, and whilst it is obvious that large volumes of various commodities are transported every day from country to country, few people know what happens to enable these cargoes to be moved. How do you find a ship to carry the cargo you have just sold to an overseas buyer or how do you buy a vessel if you want to be a ship owner? The answer is to talk to your shipbroker. Shipbroking is an activity which forms part of the international shipping industry. The role of shipbrokers is to act as specialist intermediaries between shipowners and the charterers who use ships to transport cargo, or between buyers and sellers of ships.

The broker may be acting particularly for one principal or perhaps is the sole broker between the two contracting parties. He or she will be involved in many stages of the deal presenting the business to potential clients, negotiating the main terms of the fixture or sale, finalizing the details of the contract and following the deal through to its conclusion. Brokers discuss opportunities and market trends with shipowners, report on sales, value vessels, calculate freight earnings, advise on finance and try to find ships for specific employment opportunities. When a ship is sold, brokers usually negotiate on behalf of the buyer and seller on price and terms and also provide a route to resolving any disputes which might arise. Somebrokers specialize in the sale of ships for scrapping, which requires a different set of skills.

Ship Management & Operation

This includes the narrow technical management of ships, registration of vessels, operations, service, technical maintenance, as well as management of crew, among other. It can also include the business and commercial management of a vessel, such as its chartering and financial administration.When a ship is purchased for importing and exporting goods, a ship management team is required to maintain and operate the vessels. The function of the management team is to provide the owner with support throughout the occupancy or charter of the vessel. Vessels can range in sizes and function.

Most management companies provide the owner or operator with crew on board. When the ship comes out of the shipyard (where the ship is built) the management company takes it over providing technical support to the owner. Most Management companies also offer other services like inspection prior to purchase, supervision during building, crew management and supply and ship lay-up solutions. A vessel operator oversees various aspects of a ship's operations including voyage planning, crew management, payments, and paperwork.As a vessel operator, you may work on a cargo ship, tanker, or another type of vessel.Thoroughly understand the key functions in ship management and the responsibilities in each area i.e. commercial, operational, technical, crewing, bunkers, finance & administration.

Ship Charter

Chartering is an activity within the shipping industry. In some cases a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China) or alternatively may be expressed in terms of a total sum – normally in U.S. dollars – per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit in a rising market by re-letting the ship out to other charterers.

Depending on the type of ship and the type of charter, normally a standard contract form called a charter party is used to record the exact rate, duration and terms agreed between the shipowner and the charterer. Time Charter Equivalent is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company’s performance despite changes in the mix of charter types. A voyage charter is the hiring of a vessel and crew for a voyage between a load port and a discharge port. The charterer pays the vessel owner on a per-ton or lump-sum basis. The owner pays the port costs (excluding stevedoring), fuel costs and crew costs. A time charter is the hiring of a vessel for a specific period of time; the owner still manages the vessel but the charterer selects the ports and directs the vessel where to go. The charterer pays for all fuel the vessel consumes, port charges, and a daily ‘hire’ to the owner of the vessel. A bare boat charter is an arrangement for the hiring of a vessel whereby no administration or technical maintenance is included as part of the agreement. The charterer pays for all operating expenses, including fuel, crew, port expenses and hull insurance. Usually, the charter period (normally years) ends with the charterer obtaining title (ownership) in the hull. Effectively, the owners finance the purchase of the vessel. A demise charter shifts the control and possession of the vessel; the charterer takes full control of the vessel along with the legal and financial responsibility for it.

Vessels Inspection

ITM having own well experienced team for the Ship Pre-Purchased Inspections to provide surveys and reports of the current condition, class status and life history of a vessel. These can provide vital information to help evaluate a proposed investment.By identifying potential problems, we can help reduce the business and technical risks you face when buying or chartering a second-hand vessel.

Our Marine Surveyors are qualified Master Mariners or Chief Engineers. Survey methodology includes a visual inspection and usually we cover the following:

  • Structural integrity
  • Main propulsion and auxiliary machinery
  • Documentation (classification records, PSC records, ISM records, Statutory records etc)
  • LFA/LSA equipment
  • Main propulsion and auxiliary machinery
  • Electronic equipment
  • Cargo Gears
  • Accommodation and sanitary
  • Mooring equipment
  • Main spare parts on board
Talk to Us Top