Singapore’s pro-business environment and a significant pool of international ship-owners and operators make it the ideal place for shipbrokers.
Situated at the centre of global trading routes and enjoying advantages in business culture, language and time zone, Singapore has long been regarded as the place where East meets West.
Leveraging on these strategic advantages, an increasing number of shipbroking companies and associated professionals have established their offices in Singapore in order to tap the growing opportunities in Asia, driven by the dynamic expansion of China and India. Today, there are over 100 local and international shipbroking firms operating here. With Singapore’s growing importance in the shipbroking sector, the Institute of Chartered Shipbrokers (ICS) – an internationally recognised professional body representing shipbrokers, managers and agents globally – operates a branch in Singapore.
Other than the traditional core services of chartering and Sale & Purchase, Singapore-based shipbrokers are also increasingly offering value-added services such as research & consultancy, shipping finance and Forward Freight Agreement (FFA) broking. Shipbrokers with FFA desks often act as inter-dealer brokers to assist in finding counterparties and negotiating FFA trades. They also constitute an important group in the SGX AsiaClear, Asia’s first over-the-counter (OTC) clearing facility for the trading of oil swaps and shipping derivatives.