Sofie Kronheim
Nationality: Norwegian
MSc Course: MSc Shipping, Trade and Finance
Graduation year: 2023
Navigating a successful career in the Shipping industry
As one of the most popular destinations for students, there are many reasons people choose London. For some it is being in at the heart of the action. For others it’s the wealth of cultural and culinary experiences on offer. For Sofie Kronheim, from Bergen in Norway, the biggest draw was the specialist master’s on offer at Bayes Business School.
“The reason I wanted to study in London was because of Bayes – it is the only place you can study a master’s in Shipping, Trade and Finance.”
The MSc Shipping, Trade and Finance is a unique course, which prepares students for a wide variety of roles from shipping finance and shipbroking to commodity trading. The MSc is offered through the globally-respected Costas Grammenos Centre for Shipping, Trade and Finance whose aims are to offer high-quality teaching, produce world-leading research and support international dialogue between academia, industry and government. Its activities have helped shape the global shipping industry, and the master’s is validated by the Institute of Chartered Shipbrokers (ICS).
“My goal was to learn more about the shipping industry”
“I already had a bachelor’s degree in Finance from BI Norwegian Business School, and I knew that I wanted to do something different in that field. The master’s was perfect for me, because I had the finance background, but could then specialise in shipping and trade finance.”
“It was a professor from my bachelor’s degree who actually recommended Bayes – he said it had a lot of good master’s programmes. I also knew a lot of people who were Bayes alumni and understood that if you went there, you would secure a good job afterwards. I was researching the different options and the MSc Shipping, Trade and Finance looked really interesting. I did some wider research about the Shipping industry, and then I knew that it was the master’s I wanted to do.”
“I enjoyed all the modules I studied, but the quantitative modules were probably the ones I liked most. The International Commodity Trade module, taught by Professor Michael Tamvakis, was the course I got the most out of. You learn about commodity trading the world over, and supply and demand on the shipping side. I didn’t really have any knowledge of what shipping was, so I was starting from scratch there.”
Gaining real-world insight from major shipping companies
As part of the course, students have the option to take international electives to Madrid and Athens, to gain industry insight and see how real-life organisations function.
“I appreciated the opportunity to spend a week in Athens, at Almi Tankers. We got to see how they operate and understand more about their business. It was an interesting experience, and it meant you could see how the information from our lectures was applied in practice. It really helped to ‘connect the dots’ of what we had learned on the course.”
“Another great thing about the course is that major companies, like Maersk, come in to give presentations. It gives you an opportunity to talk and start to build a relationship. That makes it easier when you are applying for jobs because you can mention you’ve already been interacting with their employees and know about their company. Several people on my course secured their jobs in this way. I think it’s a very good opportunity that Bayes offers. It’s a way to start building your network, because you get the chance to approach people working in the sector – and that networking is so important in the shipping industry. It means it comes naturally when you do it in your job, because you are used to it from your time at Bayes.”
Securing a role in the industry
After graduating Sofie returned to Norway and secured a job at Steem 1960 shipbrokers, a global shipbroker with offices in Houston, Singapore, Tokyo, Oslo and Bergen.
“I joined as an Analyst in Clean Petroleum Products, but after less than a year, I’ve been promoted to Head of Gas – it’s a more senior position and I have the responsibility for analysing gas research worldwide.”
“My time at Bayes prepared me well for my roles – I was an Analyst for the Bayes Shipping Society, so I was generating weekly reports on Gas and LPG and freight rates. It’s much easier for me to now learn the market, because I already have the knowledge and notes from my studies and doing the reports. I know the fundamentals of gas, and that’s because of what I was doing at Bayes – it has really helped me. I was working in a team of three to produce reports for the Society, and that teamwork element has also been useful in my daily role. I think that was one of the reasons I got my first job here, because they could see I already had experience writing analyst reports.”
“The course taught me the essential skill of discipline. It’s an intense year, and you have to work hard. If there was material I didn’t quite understand and needed extra study time, I learnt that by showing up every day and studying, you eventually learn it. Be patient, it takes time, but you will get there.”
“I approached the master’s like it was a full-time job – we would be studying all day and then have events to go to in the evening, to learn more about the industry and meet key people.”
“Everyone helps each other”
“There was a really good group dynamic in the class, where everyone helps each other – you are all in the same boat. It’s a very international cohort, with lots of Norwegians and Greeks. We’d study together and socialise as well – I made great friends, and I still talk to people from the course all the time. I think it’s very important to connect with everyone in the class and not just the people from your own country.”
“I’d visited London a few times as a tourist, but it is a very different experience living and studying there. I lived close to Bayes, in Shoreditch, and I enjoyed socialising there and around Liverpool Street. Soho is also great for a night out.”
“One thing I learnt about myself is that I am capable of more than I thought I was. I found Term 2 to be intense, but if you have a disciplined, focused mindset, it’s surprising what you can achieve. With that mindset, you can do anything, and the results will come.”
“It’s hard to pick out just one highlight from my time at Bayes, but I think the best would be the people you meet and the relationships you build. You will meet friends for life, and you are bonded by the experience. For people who haven’t done the master’s they can’t really appreciate what’s been going on. It’s a unique experience, and it goes so fast”.
“Now I am in a good place in my career, and I am looking forward to gaining more knowledge of the shipping industry and to being a good analyst.”
Advice to future students
“It’s a very good master’s and I would highly recommend doing it. Especially if you are wanting to do something different that not everyone else is doing. You don’t need to have a background in shipping or finance, but you will have to be disciplined, because you will work hard.”
“It’s definitely been a good investment, but you really have to go all in to get the most out of the experience.”