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The New Singapore Ship Sale Form: A Commentary on the New Sale Form

January 2011 sees the launch of a new standard form contract for the sale of ships: the Singapore Ship Sale Form 2011 to address the pressing need for revision considering how shipping had evolved over the years. The newborn is the work of a team of experts pulled together under the auspices of the Singapore Maritime Foundation and the result of a very thorough review of the legal and practical difficulties the use of its rival forms has generated in the last decades, particularly in the rising Asian market.

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Singapore Ship Sale Form: An Overview

The appended new sale form which is named the “Singapore Ship Sale Form” is a modest attempt to present the shipping community with an alternative standard sale form which, we believe, will cater to the needs of the shipping community. The new Form brings in recent ship sale and purchase practices and incorporates provisions in line with the prevailing stringent maritime security and safety regime. The Form also balances the interests of both buyers and sellers.

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Shipping Briefing – Singapore Ship Sale Form: Commentary and Drafting Notes

The Singapore Sale Form (the “SSF”) is a new pro‑forma memorandum of agreement for the sale and purchase of second‑hand ships introduced by the Singapore Maritime Foundation in January 2011. It is a direct competitor to the widely used Norwegian Sale Form 1993 (the “NSF”) and the Nipponsale 1999 Form (“Nipponsale”) and purports to offer an evolutionary step forward in relation to such contracts (referred to generally in this article as “MOAs”).

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New Singapore Sale Form

There has been wide publicity surrounding the Singapore Ship Sale Form 2011 (“SSF”) which was launched at the Singapore Maritime Foundation’s New Year Cocktail Reception 2011 on 6 January 2011.

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The Singapore Ship Sale Form

The Singapore Ship Sale Form 2011 (“SSF”) was launched with much fanfare at the Singapore Maritime Foundation’s New Year Cocktail Reception 2011 on 6 January 2011. The SMF has been spear-heading the development of the SSF, the preparation of which has taken just under two years to complete.