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Glossary
- Shipbroker
A person/company who on behalf of shipowner/shipper negotiates a deal for the transportation of cargo at an agreed price. Shipbrokers also act on behalf of shipping companies in negotiating the purchasing and selling of ships, both second-hand tonnage and newbuilding contracts.
- Shuttle tanker
Tanker carrying oil from offshore fields to terminals.
- Spot business
Broker commission negotiated and invoiced within the same business year.
- Spot market
Short term contracts for voyage, trip or short term time charters, normally no longer than three months in duration.
- Suezmax
A tanker size range defined by Clarksons as 120,000-200,000 dwt.