We recently sat down with Chris to discuss his experience at Q88 and in the maritime industry. Chris started off by offering a few thoughts on his transition from broker to product manager: “I was initially struck by the parallels between the role of a broker and the role of a product manager. When taking a closer look, however, it makes sense that the transition was so seamless and that I’ve really enjoyed both roles.”

Chris cites customer centricity as one of those parallels: “Both brokers and product managers are focused on differentiating their product or service. At the end of the day, that means listening to clients’ needs and empowering them to achieve both short-term and long-term strategic goals.” Chris finds that his experience as a broker allows him to understand clients on a deep level to help inform product strategy.  

Shaping the standard for broker solutions

When Chris first joined Q88, he noticed a glaring shortage of effective software solutions for brokers that are specifically focused on their needs. He knew that many in the broker space regarded software as an obstacle or worse, competition, rather than a helpful asset in their workflows. “We wanted to change that narrative,” says Chris. “We set out to give brokers a flexible tool that would empower them to do their jobs better, with the ability to tailor it to the way they work. Each broker does things a little differently and has their own unique value proposition, so providing that flexibility and customization was key.”

With many brokers already referencing Q88’s core solution for tanker market data, developing a broker-centric product was a natural extension. Chris adds, “Our goal was to create something that was purpose-built for brokers, allowing them to add value the way they see fit.” Today, Q88 Position List addresses this need, allowing brokers to add their own fixtures, selectively share data with others, and configure custom reports. Much of this can be done on the go, with an app. The Q88 Position List app was one of the first ones in the industry to be broker centric. 

Addressing market trends

As the maritime industry continues to evolve, Chris prioritizes adding capabilities to Q88 Position List that allow brokers to address changing requirements. “Emissions tracking and decarbonization are big topics in the market right now. We’ve been integrating emissions information directly into our solution, and we’re continuing to build upon that so that brokers can better bring emissions into decision making.”

“We are always staying in tune with market movements and our clients’ priorities. For example, we’ve incorporated the capability to add searchable columns within the solution. This is helpful for our clients if a new port has a certain restriction, as they can then easily adjust their view without issue. We also regularly add new dashboards and features to Cargoes and Fixtures to make life easier for our clients. Every release is more and more feature-rich. The market is constantly changing, so it’s important that our solution changes with it.”  

A trusted voice for clients

Chris’ broker background provides him a firsthand understanding of what clients are really looking for in a solution. When discussing new features and enhancements within Q88 Position List, he considers what he would have valued in a position list solution during his time as a broker. “As I mentioned, flexibility is really the key thing. The other is control—our solution provides complete transparency in terms of how brokers share positions, and who they choose to share them with.”

Customer service is another important piece of the puzzle, and Chris notes that the breadth of industry expertise across the Q88 team enables them to better serve their clients: “We have a lot of industry voices within the company, who have been in our clients’ shoes. This makes us intently focused on what our clients need from a solution.”  

“Q88 Position List really focuses on the success of the broker. By leveraging my experiences as a broker and constant discussion with clients, as well as keeping a pulse on the broader shipping market, we can craft a product that becomes an invaluable extension of a broker’s day to day work.”

Request a demo to learn more about Q88 Position List and how it enables faster and more effective broking.  

The post Chris Aversano: From Tanker Broker to Product Manager at Q88 appeared first on Q88.

While broking challenges are both numerous and diverse, lack of information visibility and the decentralized control of key data points are the two threads that tie them all together. Let’s take a closer look at four ongoing obstacles and how Q88 Position List can address these challenges.  

1. Market Volatility  

It’s no secret—global freight markets are unpredictable. With an ever-changing playing field, a broker’s ability to remain ahead of market shifts can be challenging. Their ability to successfully do so is central to their ability to secure the best opportunities and serve clients in a superior way.  

Q88 Position List empowers brokers with access to timely, high-quality market insights and the ability to track supply trends over time by analyzing data based on geographical criteria and vessel-specific data. In addition, it allows brokers to control how they view and utilize this data based on the most important decision criteria for their clients and their business. In short, giving the information when the clients need it, in a way that is relevant to market conditions, and in a timely manner, is the heart of the product.   

2. Data Integrity  

Poor data quality impacts the maritime shipping ecosystem at large, but its impact is especially significant for brokers. Despite the wealth of data generated by the maritime shipping industry each day, timely, accurate, and relevant data can be hard to come by, requiring brokers to search across multiple disparate sources. With each disparate system comes a corresponding delay. For brokers, delays are the enemies of opportunity.    

With Q88 Position List, brokers can access high-quality data in one, centralized source of truth.  The Q88 questionnaire integration ensures that brokers get information right from the source–ship owners and operators. Combine this with AIS data from multiple sources, TCE, CO2 and EEOI estimation capabilities, a lift calculator and more, brokers can improve information integrity while eliminating the need to consult disparate systems.  

The result? An accurate view of the many variables that impact decision-making waiting at the broker’s fingertips. 

3. Fast Pace of Business  

Vessel positions can change in a moment’s notice due to a variety of factors, including port congestion, weather-related delays, rerouting, fuel issues, and other complexities that impact voyage timelines. Despite a variety of unexpected variables, clients expect brokers to consistently identify tonnage that is available and best suited to their needs—and fast. A prerequisite to keeping up with the pace of business is harnessing technology as a workflow accelerator and not a bottleneck. For brokers, even the briefest delay can be the difference between an opportunity captured and an opportunity missed.  

With an intuitive interface, complete with single keystroke and one-click capabilities, Q88 Position List enables brokers to work rapidly in today’s fast-paced market. Multiple position lists and fixture reports can be generated without ever having to leave the platform, making workflows easier and more efficient. Brokers also have the ability to create email templates tailored to their use. Most importantly, the solution is accessible both from a standard browser and mobile app, empowering brokers to maintain visibility and control from anywhere. 

4. Competitive Realities 

The broker market is a competitive one, and brokers are constantly searching for ways to enhance their competitive advantage and bring superior opportunities to their clients. With an increasingly saturated market, finding differentiated opportunities can be a challenge. While shared deals have decreased in prevalence, cross-border relationships still play an integral role in identify opportunities across regions.  

Q88 Position List enables brokers themselves to selectively share data to a controlled set of trusted partners, with the ability to change or modify access as needed. No need to email us—brokers can do it themselves and gain 100 percent transparency. Equipped with configurable sharing permissions, brokers are free to collaborate in the ways they see most beneficial to identify opportunities that are competitively distinct.  

In addition, predictive search capabilities deliver visibility into a vessel’s next commercially available position to remain one step ahead, and brokers can easily record and store fixtures to make faster decisions.  

Enhance visibility and control with Q88 Position List 

In today’s dynamic broker landscape, business as usual isn’t enough to keep ahead. Thriving in this market requires brokers to harness the digital solutions to drive new levels of visibility and control. That’s where Q88 Position List comes in. Purpose-built to streamline and simplify broking, Q88 Position List delivers the centralized data and intuitive interface brokers need to identify the right vessels for their clients.  

To see Q88 Position List in action and learn more about how it can serve your business, contact us to schedule a free demo.   

The post Top Broking Challenges and the Pivotal Role of Visibility and Control appeared first on Q88.

It sounds cliché, but the more things change, the more things stay the same. Yes, this business has come to rely on products and services that did not exist even just five years ago, but business is still conducted in the same fashion at its core. While there is a fear and somewhat of a threat that brokers would and could be replaced by online trading platforms, this has never come to fruition, and I personally do not think it will. Why? Despite our business being classified as B2B, or as one of my professors used to say, ‘big boys and girls doing business with other big boys’ and girls’, it comes down to expertise and relationships. Neither can be captured digitally, and both are traits that are enhanced by having someone in the middle, a broker.

I have always argued that despite this part of the business becoming digitalized, the brokers’ role remains crucial. There are many online (digital) functions that make the shipbroking process better, easier, and even faster; filling out a Q88 form online is easier for sure. However, there is a level of protection that a broker adds to both the charterer and owner that a machine cannot replace. Keeping experienced and savvy brokers in your corner gives the charterers and owners a level of protection that companies that have less experienced personnel may not be able to see.

Let me give you an example. At the start of my career, I was in the chemical chartering department for a large oil company and put a ship on subjects. On my way home, it hit me, “holy crap did I ask for stainless steel tanks that were needed?” I was sure I did not ask for it, so I called the broker, and he responded in confidence, “of course we got that in there, that product always needs stainless, and you did not need to ask me to do that, I know your business.” That broker at that moment proved his value by protecting a very green chartering guy, me! This layer of protection the broker provides, helps companies that are trying to break junior people in and don’t have the internal human resources to review every detail of every deal. This also applies to critical operational issues that arise at the most inconvenient time but require experience that the brokers’ operation team often provides.

Finally, when things go wrong, it’s nice to have someone in the middle. Without fail, both sides will disagree on an interpretation of a charter party clause that could be construed many ways, and they look to the broker to vent their frustrations to and take sides. This especially is when a broker will ‘earn their keep’ by offering a palatable solution to both sides and keep any long-standing relationship intact.

There is no doubt that digitization of some functions will make the process of trading more efficient – for example, our Position List platform that will ensure that you have a list ready to export and have access to numerous other tools to accelerate your business with the click of a button. And when we look at the industry at large, it seems that there are more and more tools or product claiming to help the chartering process. In a sea of noise like it was in the 2000’s dot com surge, I remain passionate and confident that the role of the broker, albeit changing, will not disappear. None of these products, new or ones that will inevitably come, will be able to provide that layer of protection and comfort afforded by the shipbroker that both owners and charterers enjoy.

The post Ship Broking in the Digital Age appeared first on Q88.

• Joe Zhou (JZ) of Firstlink Global, Singapore
  Joe admitted that he has been a ship broker for far too long to remember; through his experience comes equally great insight.
• Fabrizio Sanguinetti (FS) of Bravo Tankers, Genoa
  Fabrizio’s journey started over a quarter of a century ago, and as he is currently holding down the LNG desk. Fabrizio talked with excitement about the opportunities that LNG will bring to the future.
• Steve Curt (SC) of Dietze, Connecticut USA
  Steve has been at Dietze for 13 years and provided great perspective as to what it takes to be a new broker.

QUESTION: What markets do you cover? 

JZ:  I cover East of the Suez.

FS:  After starting on clean and dirty handies, I then worked on clean, and now on LNG. Change is good and LNG is a great bridge to the future!

SC:  I cover the clean markets.

QUESTION: How would you describe your broking style? 

JZ:  I would consider myself aggressive but patient. Trying to find that balance is difficult but it serves me well!  

FS:  I would say I am resilient, and am able to make progress one step at a time. Brokers have to continually adapt to the present situation, which means always learning and growing. For example, learning new technology and adapting to understand new markets.

SC:  I like to adapt to my clients and their needs. For example, some clients need a buddy, some need a numbers guy, and others just need a broker to do the job when it’s needed. Whether laid back with some and more aggressive with others, brokering is all about adaptation. 

QUESTION: What is the first thing you do when you start your day?

JZ: I consolidate market information to be up-to-date on what’s going on so I can talk to clients in a more informed manner.

FS: The day never stops, and living in Italy the espresso machines is always on! From the start, I check the web for general world news, as that can impact shipping, and then I catch up on the shipping-specific news. I live online and am constantly checking for updates especially now during COVID – it never goes off. And of course, I keep Q88 open. 

SC:  The first thing I do is figure out where the tonnage is either via the Q88 Position List, ICE or with calls. Figuring out the positions sometimes allows me to start the call with what is going on with the markets as cargoes work. Working from home and not having to commute to the office allows me to do this first thing in the morning.

QUESTION:  What has COVID taught you about broking that you did not know previously? 

JZ:  How to deal with the struggles of not being able to see a client face-to-face. I learned that there is huge value with in-person meetings, and it was something we was taken for granted pre-COVID.

FS:  That I am lucky that I could do my job while not leaving the house in order to stay safe as people became sick. In these difficult times, I have realized that maintaining a healthy routine outside of work – apart from being a ship broker – is just as important as the job itself.

SC:  I have had the realization that you can work from home effectively, but being together with colleagues is still beneficial. It’s really hard not to state the fact that you can work anywhere. 

QUESTION:  What advice would you give people interested in being a ship broker?

JZ:  Take the first, then keep at it.  

FS:  Being a new broker, you need to be ready and open; absorb all of the information you can and eventually you will find your way. Being a broker is a great job, so be passionate about it and you will find the reward.

SC:  Make your presence known, otherwise it’s hard to build business relationships. The landscape is still very competitive and anything you do to separate yourself from the competition helps. 

QUESTION:  After a stressful day, how do you cope and decompress?

JZ:  This is simple; crack open a cold one with the bros! 

FS:  Normally, I would play sports, but for now, walking the dog and spending time with the family; it’s a great way to have that home / work balance!  

SC:  With a new office in South Norwalk, there are a ton of trails and places to walk near the Norwalk River. Through working from home, I have enjoyed spending time with my kids during the day. Heading back to the office makes it a bit more difficult, but something I look forward to doing after work.

As someone that spent well over a decade sitting in the broker’s chair, it was great to hear what these responses were. As I ponder Q88’s 20th year, my takeaway is that although the business environment continues to evolve, traits like perseverance, the ability to listen and adapt are characteristics for brokers that transcend market conditions. I think this is a common thread that has been key to the success of these long-time customers and Q88’s Position List.

The post The Brokers’ Perspective appeared first on Q88.

The value brokers get from our Position List platform stretches way beyond just standard AIS tracking

An early adopter and one of the largest US ship brokers

Q88 Position List is one of our suite of platforms developed specifically for the needs of the global maritime transportation industry. All of the platforms are developed by a team with intimate knowledge of shipping, gained working within the industry.

Long established, independent, Q88 is focused on providing value. The cloud enables our Position List app to provide complete portability of the product for every user. Whether at a desk or on the move, tanker brokers have the ability to search and share a position list from any suitable mobile device with internet connectivity.

Q88 Position List is built around putting AIS data to good use, generating value for our customers. One of the earliest adopters was Southport Maritime, Inc., headquartered in Palm Beach, Florida, one of the leading shipbroking companies in the United States.

The post One way Southport Maritime generates value using Q88 Position List appeared first on Q88.

Get more from the Position List platform that delivers visionary value

The post Q88 Position List: The choice for a sharper competitive edge and outstanding value appeared first on Q88.

Truly independent, long established and exceptional value

The post Why tanker brokers are switching to Q88 Position List appeared first on Q88.

A great balance of features make Q88 the platform of choice for leading tanker broking shops worldwide.

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Brokers embrace the latest developments

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Better broking with position list information that’s fast and easy to use

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