Like the market for chartering ships, a sophisticated international maritime market has developed over the years for the buying and selling of all ships. By tapping into that sale and purchase market, usually through the medium of a specialist shipbroker, those interested in acquiring tonnage, investigate which ships are available for purchase and those same brokers can seek buyers for vessels their principals may have referred to them for sale.
Of course, potential purchasers and sellers are under no obligation to utilise a broking intermediary and may deal directly with each other. Nevertheless, with newbuildings, second-hand vessels and demolition tonnage it is a normal procedure to engage the services of sale and purchase brokers.
They represent the best interests of buyers and sellers. They handle negotiations between the parties and attend to the necessary formalities once an agreement to buy or sell has been forged.
This book has been reintroduced as a first-class aid in understanding how this shipbroking sector works and excels.