Movement of Cargoes by Sea
Charterers advise Shipbrokers of the cargo that they want shipped, date, loading/discharging ports, the freight (payment) that they are prepared to pay and other conditions.
Shipbroker contacts Shipowners he thinks has suitable ships available and if so, obtains an offer to commence negotiations with Charterers..
If these are successful, a document called a Charter Party (Contract) is completed incorporating the agreement
Provided everything goes right the ship loads and discharges the cargo as per the contract conditions and according to the agreement reached during negotiations, owners are paid the freight (payment) due to them.
The Shipbroker usually receives from Shipowners an agreed commission on the freight as their payment.