How Huge, Valuable Cargo Ships Get Sold on the Secondary Market
New cargo ships frequently cost a hundred million dollars or more, putting such purchases out of reach of all but the largest and best-heeled modern companies. It can also take years for a new ship that has been ordered to be delivered, with the delay involved frequently making business more difficult in the meantime.
Ships for sale on the secondary market quite often lower these hurdles significantly and end up being a lot better suited to the needs of particular buyers. Used ships for sale can be obtained by working through a simple, well-defined process that has become largely standardized worldwide.
A Straightforward Way to Buy a Used Ship
Even though 2nd hand vessels tend to cost far less than brand-new alternatives, just about any associated sale and purchase will be significant. Fortunately, a process has been developed over the years that protects the interests of both owners and buyers effectively.
Whether it is used to enable the transfer of general cargo ships or more specialized ones like tankers and bulk carriers, this system accounts for all the most common challenges. The stages through which the sale of a used ship will normally proceed include:
Negotiation. Although sellers will typically set fairly definite terms when they list ships they wish to be relieved of, would-be buyers almost always seek to negotiate. This is more or less expected and can easily yield concessions that benefit both parties. In addition to the obvious factor of price, negations can include discussions about time and place of delivery. Once negotiations have concluded, a contract that reflects the agreed-upon terms will typically be drawn up by the seller's representatives.
Inspection. Cargo ships are almost never sold as-is unless they are meant to be scrapped. The contract that buyers and sellers negotiate will more often include terms which can be deemed satisfied only after thorough inspections have been conducted. That will involve having experts look a ship over thoroughly above the water, including conducting mechanical analyses. Divers will often be tasked with assessing a ship's hull and other parts that will normally be submerged, as well.
Transfer. Should everything go as planned and hoped, it will then be possible to arrange for the transfer of a ship to its new owner. This can take some time, particularly when the ship must be moved to another port for the handover to happen.
An Amply Proven Process
A process that includes steps like these is used worldwide to enable the safe, mutually agreeable sale of valuable cargo ships. In just about every case, simply working through such an established process will ensure that both seller and buyer end up being satisfied.