Shipbuilding Contracts - the value of Defence Club cover

Shipbuilding over recent years has shown a dramatic increase in terms of ship numbers and also the yards involved. The subsequent financial crisis of 2008 has led to a rise in the number of disputes under newbuilding contracts, as shipyards which took on a significant number of contracts find themselves

racing to meet delivery deadlines, or running into financial difficulties as credit lines dry up.

Although shipbuilding contracts are frequently based on one of a number of standard forms, in reality each contract is different with terms varying widely. The contract terms will be dependent on the yard, the type of ship involved, the financing arrangements, and the buyer's requirements for compliance

with specifications and design, quality of workmanship and delivery timing.

The attached review summarises some of the areas in which disputes can arise.1

Downloads

  • 6550 - UKDC_2010_NewBuildingDisputes-web 318 KB

    14/09/2016

    Download PDF

Staff Author

UK P&I

Date01/01/2011

Tags

You may also be interested in:

In this article, we look at why depression and anxiety in men so often go undetected and unrecognised, especially in male-dominated environments such as seafaring, and what can be done to address this issue.

In our 4-part series highlighting Men's Health Awareness Month, Sophia Bullard, Crew Health Programme Director, interviews Timothy Semenoro in a short Q&A session on the subject of wellbeing.

This article considers recent case studies of fires on ro-ro vessels, along with the associated safety and risk aspects that should be highlighted during operation, especially with consideration to EVs.

Global warming is one of the most severe and complex challenges our world faces today; there is an urgent need to reduce emission levels and avoid the most devastating impacts of climate change and every individual, business, and industry, including shipping, has a part to play.