Breaking News

Marine Online resolves a complicated chemical tanker ownership in Singapore

chemical tanker

The tanker market reportedly improved in 2019, but not without legality issues. When it concerns a partially-built vessel, it involves conceptual and contract design. Its complexity will deepen if the ownership keeps changing hands.

A complicated ownership structure was resolved with the intervention of Marine Online for a partially constructed Russian-built 14,000 DWT chemical tanker in Singapore. It began with a Russian individual owner, who later handed over to the Russian port, only for it to be passed back to another Russian individual who chose to take over the vessel. That resulted in requiring all previous design blueprints to eliminate any structural complexities.

The complications of a partially-built tanker did not deter the interested Singaporean buyer. Marine Online successfully bridged the communication barriers between two nationalities, documentation and legalities through its own agent in Russia. The sale was finalised with the Russian seller flying to Singapore with his agent to complete the paperwork. The vessel was subsequently towed to China to resume construction.

Apart from a comprehensive portfolio of services which include valuation, inspection, related legalities and surveys, Marine Online’s extensive network is the ideal bridge between sellers and ship owners looking for quick and smooth transactions. Buyers will receive optimum advice in their search for the suitable vessel.

Marine Online is a one-stop maritime platform catering to the evolving needs of industry players regardless of business scale. From Sales and Purchase, the platform offers other comprehensive services including bunkering, crewing, ship supplies purchase and a range of marine assistance. Users can look forward to quick, professional, safe and secured transactions through the platform.

 

Ship Sales N Purchase banner

 

Check Also

shipping

Philippines’ ailing shipping industry receives a lifeline

The congress rolls out a series of benefits for the wounded shipbuilder and repair sector …