Brokerage and Chartering Exam 1 Review Questions and Answers 100% Correct

Brokerage and Chartering Exam 1 Review Questions and Answers 100% CorrectBrokerage and Chartering Exam 1 Review Questions and Answers 100% CorrectBrokerage and Chartering Exam 1 Review Questions and Answers 100% CorrectBrokerage and Chartering Exam 1 Review Questions and Answers 100% Correct What makes a good broker? - ANSWER-~Knowing the current freight/hire rates in the trade. ~Aware of seasonal variations, recent fixtures, and current ship/cargo availability ~Know the desired business of his Principal (know what the Principal wants and does not want to be offered) What is the ship owner responsible for? (Time Charter) - ANSWER-~Make vessel available to Charterer in a specified area within a certain time span ~Responsible for seaworthiness (including class conformance) ~Responsible for manning (crew and officer ~Responsible for crew supplies (also known as victualling) ~Responsible for vessel navigation ~Responsible for keeping vessel and equipment in proper working order APS - ANSWER-Arrival Pilot Station (favors the charterer) DOP - ANSWER-Dropping Outward Pilot Station (favors the ship owner)