The sale and purchase of a ship as well as asset change of ownership present a variety of challenges from legal, administrative and operational perspective. Many of those may be overcome through detailed planning and having the right advisor next to you.

Before closing a sale, both parties (buyer and seller) are encouraged to perform a preliminary due diligence on each other. However, a mutual satisfactory upon parties’ due diligence does not always mean that the asset itself truly meet all required criteria.

One of the important aspects that organizations are coming across is the delivery of required documentation. For example, evidence of good standing, proof of vessel ownership, safety certificates, class certificates, technical documents, logbooks, manuals, plans, blueprints, etc. It is highly recommended to perform basic checks before committing to the MoA, after which it may be more difficult to avoid the sale if an unsatisfactory position is discovered.

At GMCG we have the right experience and the right expertise in assisting your deal with information collection; cross checking and validation of the data; communication with relevant flag states and class societies.

Leave your challenges to us and enjoy uninterrupted business operations.

Interested? Send us message now on admin@gmcg.global.