Sale and purchase of ships

Sellers and buyers of ships often need advice and assistance in negotiating the terms of sale and implementing the transfer.

The negotiation of terms should include issues such as:

• which standard agreement should be used, what amendments (if any) should be made, or will a tailormade solution be required
• whether it is necessary to examine the other party’s legal affairs
• whether a company or similar entity should be established for the purpose of acquiring the ship; on which shipping register the ship should be registered
• whether advice should be obtained in the relevant jurisdiction
• obtaining the required documentation and historical records of the ship.

These issues are also of interest to those making or financing investments in ships, and to lenders entitled to loan repayment upon the sale. Having cooperated with financial institutions for many years, Kromann Reumert has gained wide experience in this field.

It may be relevant to engage technical consultants to examine the ship and related documents. Kromann Reumert benefits in this respect from a broad network of contacts in Denmark and abroad.

Our expertise

Our services include:

• contractual negotiations
• planning of investment projects
• investigations into the other party’s affairs
• liaison with international advisers
• planning of implementation of transactions
• resolution of urgent issues arising at closing
• registration of ships and rights.