Shipping & Chartering FAQs

  How does Lighthouse Shipping stay current with the ever changing shipping freight rates & market conditions?

We keep our clients up-to-date on present market conditions, trends, freight rates and opportunities by constantly assessing the market through trade and shipping publications, by attending shipping and commodity conferences worldwide and more importantly, by being active in the industry on a daily basis while trading, quoting orders and fixing ships. We are well networked globally with dozens of major ship owners and charterers.

  What is a fixture?

A fixture is a completed negotiation that results in a Charter Party (contract) between an Owner and a Charterer.

  What is laytime?

Laytime is the agreed amount of time that a ship owner makes its vessel available for loading and discharging under a Voyage Charter Party contract.

  What does the term “about” mean when used in the context of cargo quantity (e.g. “about 20,000 metric tons”)?

This means the cargo will cover a margin of plus or minus 5 per cent.

  How do I know you will negotiate the best freight rates and terms on our behalf?

As professional brokers, we are guided by the principals of honesty and fair dealing and take our responsibilities very seriously. We will always:
• advise our clients on the realistic status of the shipping market
• abide by the shipbroker’s code of ethics when negotiating rates and conditions of the charter party
• accurately prepare the Charter Party after the fixture has been concluded.

  I am new to shipping and don’t know how to get my product from point A to point B. Can you help?

We will assist first time shippers by answering all your questions and leading you through the step-by-step process of shipping your goods. We keep close track of the vessels’ positions and arrivals and will keep you informed. We will also arrange freight payments and we will ensure that your goods arrive safely at their final domestic or or overseas shipping destination. We remain in the picture after the fixture has been concluded (aka “post fixture”) for purposes of acting as a liaison for communications between the principals.

  Who pays the broker’s commission?

The brokerage fees for services performed by a broker are paid for by the vessel’s Owner.