Sale purchase ship sale and purchase brokers sp handle the buying and selling of existing vessels in the secondary market to include newbuildings the brokers provide information to the parties involved assist in negotiation of the price and terms on behalf of all principals. The sale and purchase of ship is one of the important aspects of the shipping industry it involves vast amounts of money in excess of 100 million us dollars and requires different kinds of professional knowledge such as knowledge of particular type of ship and its function legal knowledge as well as dealing and bargaining knowledge in order to reduce the number of disputes and smoothen . Global shipping loan portfolios drop to 345bn by nigel lowry petrofin bank research said another 10bn has been knocked off the portfolios of the top 40 banks over the past year. The ship sale and purchase market is cyclical and at times volatile trading conditions for ship sale and purchase whether generally or for ships in specific sectors can change quickly in response to global economic conditions
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