1 Platonos & 18 Sotiros Dios,
Piraeus, Attiki, 185 35, Greece

Legal Aspects of the Ship Sale and Purchase

Dates:

12, 14, 19 & 21 May 2025

Duration:

4 Sessions

Hours:

19:30 – 21:30 (GMT +2)

Fees:

450 EUR

(Including tuition fees & reading material)

ICS Members are eligible to a discount 20% on all HMC Professional Maritime Seminars

The Sale and Purchase of Ships present various legal and practical challenges. This seminar covers the intricate mechanisms and processes involved in the sale and purchase of vessels, offering participants a comprehensive understanding of the legal aspects through practical examples and case studies

SPECIFIC AREAS COVERED

Evolution of SALEFORM: From 1987 to 2012 and a comparative analysis with SHIPSALE 22
Introduction to the latest form by BIMCO, SHIPSALE 22
Legal definition and implications of the Memorandum of Agreement (MOA)
Physical condition of the vessel; sale by description, inspections regime
Determining the sale price: Evaluating market value, spares, exclusions, bunkers, taxes, fees, and expenses
Sellers’ obligation to deliver the vessel free from encumbrances.
Examination of the choices of governing law and arbitration
Overview and analysis of dispute resolution options, along with their respective pros and cons.
Addressing scenarios of non-performance: Force Majeure, total loss, buyer’s, and seller’s breaches.
Understanding the significance of the Entire Agreement clause
Payment considerations: Including lodging the Deposit, Payment of the Purchase Price, Payment for bunkers, greases, and oils.
Pre-delivery timetable; Initial vessel inspection, Buyers’ on-board representatives, Notices, vessel location and NOR, Diver’s Inspection / Drydocking, Process for measuring bunkers and identifying inventory.
Delivery process: Including the Financial closing meeting and documentary requirements.
Post-delivery considerations; Change of name / funnel markings, Post-delivery documentary obligations, Seller’s warranties, Latent defects
Real-life case studies exemplifying legal principles in action.
Interactive Q&A session.

SEMINAR OBJECTIVES

Explore the legal framework governing ship sale and purchase.
Examine key mechanisms and processes involved in the sale and purchase of vessels.
Examine the related contracts and clauses; MOA – legally defined.
Get an update on the BIMCO’s new form SHIPSALE 22
Understand the rights and obligations of buyers and sellers.
Analyze common challenges and dispute resolution options.
Provide practical insights and strategies for successful transactions.

Download a Brochure

Apply for the Seminar here

IDEAL FOR

Shipping company personnel and ship managers seeking to deepen their understanding of the legal complexities involved in ship sale and purchase.
Shipbrokers and marine surveyors aiming to enhance their knowledge of contractual arrangements and legal frameworks governing ship sale and purchase.
Technical, commercial, and operations personnel who require a comprehensive overview of the legal aspects of ship sale and purchase contracts.
Professionals in maritime insurance, law, finance, and government sectors are interested in gaining insights into the legal intricacies of ship transactions.

Tutors

Georgia Botsiou
Legal Director and Insurance Manager, Shipping Company

Paraskevas Kousounadis is a Chartered Certified Accountant with extensive shipping experience in accounting and finance. He is presently employed as a Finance Manager by a long-established Greek ship management company. He holds a BSc (Hons) degree in Applied Accounting, as well as in Biomedical Sciences. He is a Fellow member of the Institute of Chartered Shipbrokers (ICS), the Association of Chartered Certified Accountants (FCCA), the FCCA Greek Advisory Committee, the Institute of Certified Public Accountants of Greece, the Economic Chamber of Greece and the Shipping Professional Network of London. He is also a Certified Internal Auditor ISM-ISPS-MLC for Shipping Companies by DNV-GL.
He has excellent knowledge of financial and accounting procedures, as well as a thorough understanding of financial audit and internal control systems both ashore and onboard. He teaches Shipping Accounting at HMC/ICS Greek Branch.