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This system continued for more than two hundred years and it is not clear when or why the practice died out. It is generally believed to have been overtaken by the self-regulation imposed by membership of the Baltic Club, the 19th century coffee house from which today s Baltic Exchange evolved. Of course we now have today s equivalent of the Sworn Shipbroker because a Fellow of our Institute by the authority of Her Majesty s Privy Council may call him or herself a Chartered Shipbroker.
Our Institute s own history developed out of the Baltic Exchange but because the Baltic s terms of reference were (and always have been) Ȋto provide a market shipbrokers wanted more – and not just in the City of London. Although London was then as it is today the main centre of the world’s dry cargo chartering, a great deal of chartering was also taking place in ports all around the British coast. The pattern was that a ship would arrive in, say, Cardiff to discharge a
cargo of iron ore and the agent appointed to look after that ship’s affairs whilst she was in port, would traditionally have the task – and the right – to find outward employment, almost certainly with a coal cargo. Except for the major ports like London, Liverpool and Southampton, almost
all Britain s ports owed their existence at that time to the coal trade.
Thus, parallel to the situation in the City of London, there were Shipbrokers Associations established in many UK ports; several of our branches today have archives relating to when they were local associations.
The Institute of Chartered Shipbrokers East Africa is a provider of professional maritime training with an unrivalled programme of education and qualification. with Offices in Mombasa Kenya For industry newcomers, the ICSEA offers a tailored introduction to the maritime world, with study culminating in diplomas that enable specialization in a number of different areas, including:
The Institute may be steeped in history and tradition but the very existence of this web site, the fact that we tutor many of our students via e-mail and that globally ICS have members in more than 50 countries, perhaps proves that we are no strangers to the 21st Century.
