Hi guys,
Super interested in commodities. Thought I’d wanna work at a majors doing O&G trading but realised I may not have the quantitative background for it. Stumbled onto shipbroking and it seems very interesting to me. Wondering if anybody in the industry has any resources I could use to get a better idea of it or is willing to answer some quick questions. Anything is appreciated thanks!
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Based on the WSO Dataset, shipbroking is indeed a fascinating field within the commodities sector, especially if you're interested in the operational and logistical aspects of commodity trading. While the context provided doesn't specifically mention resources for shipbroking, it does offer a wealth of information on commodities trading and related fields.
Here are a few steps you can take to gain more insight into shipbroking:
WSO Company Database: Utilize the Wall Street Oasis company database to find firms that specialize in shipbroking. This can give you an idea of potential employers and the landscape of the industry.
Networking Guide: Leverage the WSO Networking Guide to connect with professionals in the shipbroking industry. Networking can provide you with firsthand insights and potentially open doors for informational interviews where you can ask your specific questions.
WSO Virtual Bootcamps: Although these are more focused on investment banking and private equity, attending these sessions can provide you with a broader understanding of the financial markets and how commodities fit into the larger picture.
Career Resources: Explore the career resources section on WSO for any discussions or threads specifically about shipbroking. Engaging in these forums can help you connect with others who have similar interests or who are currently in the field.
Remember, while shipbroking might not require as heavy a quantitative background as trading in oil and gas, having a strong grasp of market dynamics and logistics is crucial. Engaging actively on platforms like WSO can significantly aid in building your understanding and network in the shipbroking domain.
Sources: Trading Vol in an IB - what are the good resources for Rates, Credit, FX, Equities? Market-makers' help greatly appreciated, How to break into trading? - High quant background?, Relevant Background for Physical Commodities Trading, Breaking into Oil & Gas / Energy as a UG, Physical Commodities: Shell vs. BP vs. Trading House Grad Programmes
You can be a charterer. You dont need to be a math whiz to be in commodities tbh.
All of the oil and gas majors have freight trading desks where there is no quantitative requirement whatsoever.
Check out a website called The Virtual Shipbroker. That guy sells 2 books on there, it's worth the money. They're old but will give you a good grasp into the concept of chartering.
In terms of the nature of the business, you're right. In fact out of all commodities, freight is the least quantitative I'd imagine. It also by far has the most brokers involved. If you look at Clarksons, SSY, Lightship, Braemar etc. it's hard to find another commodity that involves as many brokers as freight. As you go down in vessel sizes, it gets even more relationship driven and technical. I'm not sure about tankers as I'm in dry, but from what I see on a daily basis there's just too many variables for a dedicated algorithm to read data and make decisions off. The industry is definitely getting more tech focused, but I would say that's just making administration and operations more efficient, rather than impacting the commercial side. We are extremely far away from something like power / gas trading.
Happy to answer any questions you have through DMs.
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