NAICS Code 423860-22 - Ship Brokers (Wholesale)

Marketing Level - NAICS 8-Digit

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NAICS CODE 423860-22
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NAICS Code 423860-22 Description (8-Digit)

Ship Brokers (Wholesale) are companies that act as intermediaries between ship owners and charterers or buyers. They facilitate the buying, selling, and chartering of ships and other marine vessels. Ship brokers provide a range of services to their clients, including market analysis, price negotiation, and contract drafting. They have a deep understanding of the shipping industry and use their expertise to help clients make informed decisions.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 423860 page

Tools

Tools commonly used in the Ship Brokers (Wholesale) industry for day-to-day tasks and operations.

  • Shipbroking software
  • Market analysis tools
  • Contract drafting software
  • Communication tools (e.g. email, phone, video conferencing)
  • Shipping databases
  • Freight rate calculators
  • Vessel tracking software
  • Financial analysis tools
  • Risk management software
  • Legal research tools

Industry Examples of Ship Brokers (Wholesale)

Common products and services typical of NAICS Code 423860-22, illustrating the main business activities and contributions to the market.

  • Container ship chartering
  • Bulk carrier sales
  • Tanker vessel brokerage
  • Offshore vessel leasing
  • Cruise ship sales
  • Ferry chartering
  • Barge sales
  • Tugboat brokerage
  • Fishing vessel leasing
  • Yacht sales

History

A concise historical narrative of NAICS Code 423860-22 covering global milestones and recent developments within the United States.

  • The history of the Ship Brokers (Wholesale) industry dates back to the 19th century when the shipping industry was booming. Ship brokers acted as intermediaries between ship owners and charterers, negotiating the terms of the charter party agreement. The industry saw significant growth during World War II when the demand for shipping services increased. In recent years, the industry has faced challenges due to the decline in global trade and the oversupply of vessels. However, the industry has adapted to changing market conditions by leveraging technology to improve efficiency and reduce costs. In the United States, the Ship Brokers (Wholesale) industry has a long history dating back to the colonial era. The industry played a crucial role in the growth of the American economy by facilitating trade between the colonies and Europe. In the 20th century, the industry saw significant growth due to the expansion of global trade and the rise of containerization. However, the industry has faced challenges in recent years due to the decline in global trade and the oversupply of vessels. Despite these challenges, the industry has continued to innovate and adapt to changing market conditions.