Sales and Purchase

Sales and purchase of ships are effected using standard sale contracts, namely Norwegian (NSF), Nippon (Ni SF) and Singaporean Sales Forms (SSF) all of which are named and commonly referred to as Memorandum of Agreement.

Due to the nature of Sale & Purchase contracts, prolonged lead time to completion of the sale, vessel’s commercial commitment, market fluctuation, unknown condition of hull envelope and the outcome of Class/flag surveys and as a result uncertainty surrounding the condition of the vessel as well as presence of a hawkish buyer’s representative would cast a question mark on sellers’ ability to deliver the vessel without conditions of class and/or authority and if so what would be commercially and contractually a viable course of action and acceptable to both parties.

With our extensive experience in shipping industry, we can offer advice at all stages of the sale covering negotiation/contract preparation/Recap, technical inspections/records and documentation review and completion of the sale/purchase plus any and all post S&P related matters including flag, classification and certification matters.

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