Fundamentals of Ship Sale and Purchase

Ships number amongst the largest and most expensive moveable structures made by man. The process of their sale and purchase reflects this, in particular in terms of values and the requirement for commercial precision.

The ship sale and purchase market is cyclical. The number of current transactions is down considerably from the recent top-of -the-market conditions where there was an annual average turnover of some 1,500 deep-sea ships with a value of around US$36 billion. Today, speculators and cash-rich shipowners who exited when the market was high are returning and taking benefit of depressed asset prices. The present market is also seeing a higher number of vessels being sold for scrap, whilst some new build vessels are being resold on the open market as the original owners have failed to secure funding to meet contractual payments.

This comprehensive course on the sale and purchase of second hand tonnage is an opportunity to gain a valuable insight into the complexities of the topic and to gain an understanding of the processes. It is aimed at anyone involved in this fascinating sector of the shipping industry: buyers, sellers, brokers, financiers and others. The course partners the ‘Fundamentals of Contracting Newbuildings Course’, which is also available from Lloyd’s Maritime Academy.

The aim of this distance learning course is to develop balanced knowledge and understanding of ship sale and purchase; of the commercial aspects to enable effective negotiation, of the processes and of the legal framework which provides the ‘rules’. It is written to provide maximum relevancy and deliver a thorough understanding of the roles of the parties in conducting ship sale and purchase transactions. It covers negotiations, making the contract, inspections, delivery and finance. In addition, it explores the duties and obligations of the seller and buyer and what happens when things go wrong; protection of both parties, remedies, and potential procedures to terminate a contract.

Being delivered by distance learning, this course allows you to fit your learning around your everyday activities at a convenient pace and location. You can use the online forum to interact with fellow participants and share experiences and knowledge; you will also be able to access expert tutor support before checking your learning and understanding with the online tests at the end of each module.

Delivery:	Distance
Category:	Maritime Management