Book Description

Ship Sale and Purchase is the essential working guide for anyone involved in the business of making ship sale and purchase agreements and also in the resolution of disputes arising out of such agreements. The seventh edition of Ship Sale and Purchase contains a detailed clause-by-clause analysis of SHIPSALE 22, the new standard form Memorandum of Agreement for ship sales and purchases published by BIMCO in 2022. This clause-by-clause analysis is supplemented by commentary on the corresponding provisions of the other leading standard forms used in the global shipping markets - SALEFORM 2012 (the latest version of the longstanding standard form produced by the Norwegian Shipbrokers' Association), SINGAPORE SHIP SALE FORM 2011 and NIPPONSALE 1999 - and the main differences between these forms and SHIPSALE 22. This edition of Ship Sale and Purchase also contains a comprehensive description of the many ways in which standard form agreements may be modified, through amendments to the printed terms and the use of additional clauses, to suit the particular requirements of the parties to individual transactions. In addition, it analyses relevant decisions of the English courts and arbitration tribunals and explains the implications of these decisions for ship sale and purchase transactions. The seventh edition also includes commentary on changes in working practices such as the use of electronic signatures, the practice of "remote" closings, payment mechanisms and the impact of sanctions and anti-corruption legislation. As with previous editions, the seventh edition of Ship Sale and Purchase seeks to provide legal analysis, market insight and practical guidance for all those involved in the business of buying and selling second-hand ships.