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

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

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Transportation Worker Identification Credential (TWIC): A security clearance issued by the Transportation Security Administration (TSA) that allows access to secure areas of maritime facilities. This credential is required for all maritime workers, including ship brokers, who need unescorted access to secure areas of ports and vessels.
• Customs-Trade Partnership Against Terrorism (C-TPAT) Certification: A voluntary program that aims to improve the security of supply chains for imported goods. Ship brokers who participate in this program must meet certain security criteria and agree to work with U.S. Customs and Border Protection (CBP) to enhance supply chain security.
• Federal Maritime Commission (FMC) License: A license required for all ocean transportation intermediaries (OTIs), including ship brokers, who operate in the U.S. foreign commerce. This license ensures that OTIs are financially responsible and meet certain regulatory requirements.
• International Ship and Port Facility Security (ISPS) Code Certification: A certification required for all ships and port facilities that engage in international trade. This certification ensures that ships and port facilities have implemented security measures to prevent terrorist attacks. Ship brokers who work with international trade must be aware of this certification and ensure that the ships and port facilities they work with are compliant.
• International Maritime Dangerous Goods (IMDG) Code Certification: A certification required for all shipments of dangerous goods by sea. This certification ensures that dangerous goods are properly classified, packaged, marked, and labeled to prevent accidents and protect human health and the environment. Ship brokers who work with dangerous goods must be aware of this certification and ensure that the shipments they handle are compliant.

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.

The anticipated future trajectory of the NAICS 423860-22 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Ship Brokers (Wholesale) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for shipping services. The growth of the global economy and international trade is expected to drive the demand for shipping services, which in turn will increase the demand for ship brokers. Additionally, the increasing demand for eco-friendly shipping solutions is expected to create new opportunities for the industry. However, the industry may face challenges due to the increasing competition and the impact of the COVID-19 pandemic on the global economy.

Recent groundbreaking advancements and milestones in the Ship Brokers (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

• Digitalization Of Shipping Documents: The industry has seen a recent innovation in the digitalization of shipping documents, which has made the process more efficient and cost-effective.
• Use Of Blockchain Technology: Some companies in the industry are exploring the use of blockchain technology to improve the transparency and security of shipping transactions.
• Adoption Of Eco-Friendly Shipping Solutions: The industry is adopting eco-friendly shipping solutions, such as the use of biofuels and electric ships, to reduce the environmental impact of shipping.
• Integration Of Artificial Intelligence: Some companies are integrating artificial intelligence into their operations to improve the efficiency of the shipping process.
• Expansion Of Services: Some companies are expanding their services beyond traditional ship brokerage to include logistics and supply chain management.