Sale and leasebacks in the spotlight of new BIMCO project
24 October 2019On 24 October, at a meeting in Shanghai, BIMCO started work to develop a new standard term sheet for ship sale and leaseback transactions.
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On 24 October, at a meeting in Shanghai, BIMCO started work to develop a new standard term sheet for ship sale and leaseback transactions.
Sale and leaseback transactions have seen a substantial increase in recent years as an alternative method of ship financing, and BIMCO has adopted a new term sheet which will facilitate the negotiation of sale and leaseback deals and make the process cheaper for parties involved.
In October, an Asian-based subcommittee involving major players within the ship owning and ship leasing communities will begin work to develop a term sheet for sale and leaseback transactions to meet a rise in demand and to complete the suite of three term sheets available for financiers, shipowners and their advisors.
In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.
In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.
BIMCO’s Documentary Committee has positively received a new standard Memorandum of Agreement (MOA) for the sale and purchase of ships, thereby opening the doors to wide industry consultation before finalising and publishing the new standard next year.
The weekly secondhand sales report by Intermodal Shipbrokers, provides an overview of the sale & purchase market, price by ship type.
The weekly secondhand sales report by Intermodal Shipbrokers, provides an overview of the sale & purchase market, price by ship type.
The weekly secondhand sales report by Intermodal Shipbrokers, provides an overview of the sale & purchase market, price by ship type.
The weekly secondhand sales report by Intermodal Shipbrokers, provides an overview of the sale & purchase market, price by ship type.