Oil tankers chartering plays an important role in the shipping industry as well as many other industries that have intense competition among themselves. To avoid conflict and improve the shipping industry environment there must be chartering companies and departments in cooperated in to the industry to maintain a neutral playing field among all players in the industry and to maintain the highest standards.

The introduction of oil tankers chartering has brought within

many advantages to the industry since shipping freight charges have been regularized meaning that the charges to hire oil tankers remain relatively stable with a narrow corridor left that the companies can bargain within. Having this regulated pricing ensures that shipping companies prices remain relatively close to competitors and other means must be sort to attract clientele.

It also reduces the land based personnel hassles’ that the shipping company would need to face it they were to post an office at each port and gather the cargo that was to be shipped to other destinations. Ship chartering companies could therefore be more easily is described as commission agents that gather the cargo at port towns and arrange for the vessel to come in and ship the cargo. The companies are therefore trusted partners of shipping companies since they must arrange all the land based cargo and charge the owners in advance for the cargo which they then load on to appropriate vessel and ship to their destinations were other charter companies await to clear the cargo and dispatch or hand over to their respective owners.

Unlike other ship chartering company branches the oil tankers chartering business has had a boom in growth in the past century with the increase in oil consumption around the world. Although fewer than ordinary ship cargo chartering due to the limitation of oil producing companies they play a major role towards the distribution of oil products around the globe.

The job also carries risk for the chartering companies since they must ensure the safety of the cargo being shipped and to do this they regularly conduct safety visits to shipping vessel to make sure marine vessel maintenance is conducted and the vessels are fit and safe to transport their cargo. This can be easily defined like a person finding a truck to transport his good; he will choose the tuck in the best condition since the prices are relatively regulated rather than pay an older vessel that may carry the risk of not delivering his cargo.

Oil tankers chartering and chartering as a whole is very important for any industry that deals with huge amounts of cargo or products since it improves the industries standers and maintains vigil of prices so that some companies do not under charge in the industry thus leaving companies with newer and safer vessels without business. Having professional chartering companies in any industry may have difficulties during the initial stages but as time passes there benefits slowly become clear and companies realize their contribution towards marinating high standards in the industry and maintaining a level playing field that gives most players a fair chance of success or failure.