Ship Sale and Purchase (SSP)
After completing the course, the participants will gain an overall understanding of the relationships between world economy, seaborne trade and various commodity markets. They will learn how generic economic models are applied in shipping and this will be followed by detailed descriptions of the most important shipping sectors. The participants will also learn the “lifespan” of a vessel: from new building to second- hand market to recycle. This course also enables the participants to understand how shipping industry is connected to port and terminal business and together form the maritime supply chain.
Understand the relationship between global economy, maritime transport and political factors
Discuss the economic organisation and structure of the shipping markets
Understand the relationship between supply and demand of commodities and freight rates
Understand the relationship between shipyard capacity, new building orders, the second hand market and recycling of merchant ships
Understand the structure of shipping costs and revenue streams
Discuss the major dry bulk commodities, their origin, factors affecting supply and demand and the impact on the world fleet
Discuss the major wet bulk cargos, their origin and destination, factors affecting supply and demand and the impact on the world fleet
Ship Sale and Purchase is a must attend session explaining practical aspects for anyone involved in the business of negotiation, preparation and completion of buying and selling ships, making ship sale contracts and also in the resolution of related disputes. Session includes practical advice on new and second hand tonnage contracts.
Discusses typical problems and tensions between the parties to ship sale contracts, as well as best practice. A practical overview of two other ship sale contracts, the current (1999) edition of Nipponsale and the first edition (2011) of the Singapore Ship Sale Form.
Many ways in which the standard form provisions may be modified to suit the particular requirements of each transaction is also included. A lucid evaluation of recent case law highlighting legal issues and developments in this area of law.
Purchase price – Spares, bunkers and other items – Buyers’ default – Deposit – Documentation – Sellers’ default – Payment – Encumbrances – Buyers’ representatives – Inspection – Taxes, fees and expenses – Law and arbitration – Time and place of delivery and notices – Condition on delivery – Notices – Divers inspection / dry docking – Name / markings – Entire agreement. In addition there is detailed commentary on: – Additional clauses – Payment methods – Security – Brokers – Class societies.
Ship Registration: Law and Practice – choice of flag is fundamental to a ship’s commercial performance, and awareness of the numerous factors that determine the most commercially viable option is important for every business involved in shipping. This session provides authoritative information to the theoretical and practical aspects of Ship Registration.
The course also helps to learn legal concepts and their practical application, with special consideration given to: Underlying legal concepts behind the registration of ships Flags of convenience – what they are and why their use is on the increase Registering a bareboat charter and how these differ from the norm Factors governing choice of flag Covers full procedural requirements for 20 leading registries Discusses all forms and procedures
Provides comprehensive, up-to-date coverage of the English law of ship mortgages. All aspects of ship mortgages, ownership, registration and the different types of mortgage and security interest available are discussed. The rights and obligations of both the owner and mortgagee are fully considered. Other issues addressed include insurance, problems arising as a result of default by the owner, enforcement remedies available to the mortgagee, insolvency and conflict of law issues. Course covers the perspective of both the mortgagee and the owner. Discusses a precedent deed of covenant.