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Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase

Year 2024, Volume: 7 Issue: 2, 61 - 99, 31.12.2024

Abstract

SHIPSALE 22, the draft ship sale contract published by the Baltic and International Maritime Council (BIMCO) in 2022, is commonly argued to meet most of the changing needs in maritime trade. In the previous forms used, especially to incorporate new developments into the draft contract, many additional clauses are required to be added to reach an agreement. In particular, contracts were almost rewritten in order to respond to many concerns and advancements, such as COVID-19 and the proliferation of electronic closing/signatures. Based on all these needs, BIMCO has introduced a new alternative in smart contract format that can be used in the purchase and sale of second-hand ships. This study aims to interpret the second-hand ship sale process, and the legal considerations in this regard, especially case-by-case analysis of provisions of the SHIPSALE 22 by comparing them with previous similar contract formats.

References

  • Beale H, Chitty on Contracts (Sweet & Maxwell 2022)
  • Başkara M, ‘Türk Hukukunda Gemi Satış Sözleşmesi’ (Unpunlished PhD Thesis, University of Ankara 2024)
  • Bleyen L, Judicial Sales of Ships (Springer 2016)
  • Chatzis A, ‘The Sale and Purchase Shipbroker and the Hedonic Price Model for Second Hand Ships’ (Erasmus Rotterdam University, Master Thesis, 2010)
  • Cordero-Moss G, Boilerplate Clauses, International Commercial Contracts and the Applicable Law (Cambridge University Press 2011)
  • Debattista C and Lorenzon F, Sale of Ships under the Singapore Form (LexisNexis 2012)
  • Ekşi N, ‘Montreux Anlaşması Uyarınca Boğazlardan Geçen Yabancı Gemilerin Haczi ve Bu Gemilere El Koyulması’ (2017) 37(1) Milletlerarası Hukuk ve Milletlerarası Özel Hukuk Bülteni 125-184
  • Erdem F, Anonim Ortaklık Pay Satış Sözleşmeleri Özelinde Beyan ve Tekeffül Sigortası (Yetkin 2023)
  • Erdem F and Özturk M, ‘Utilising Warranty and Indemnity Insurance to Address Asymmetric Information’ (2023) 3(2) International Journal of Insurance and Finance 1-10
  • Hannaford M, Turner P and Goldrein I, Ship Sale and Purchase (CRC Press 2023)
  • Hannaford M and Paul Turner, Ship Sale and Purchase (Routledge 2023)
  • Institute of Chartered Shipbrokers, Ship Sale and Purchase (Short Run Press 2020)
  • Lorenzon F and Velasco A, ‘Shipbuilding, Sale, Finance and Registration’, Maritime Law (Informa Law 2014)
  • Osborne D, The Law of Ship Mortgages (Informa Law 2024)
  • Pınarbaşı B, ‘BIMCO SHIPSALE 22 VE NSF 2012 Gemi Satış Formu Karşılaştırması: Gemi Satışında Yeni Bir Ufuk Mu, Yoksa Sadece Bir Yan Ürün Mü?’ (2023) 66(7) Deniz Deniz Ticareti Dergisi 34-36
  • Soyer B and Tettenborn A, Ship Building and Finance (Informa Law 2016)
  • Stopford M, Maritime Economics (Routledge 2009)
  • Strandenes S, ‘The Shipbroking Function and Market Efficiency’ (2000) 2(1) International Journal of Maritime Economics 17-26
  • Strong M and Herring P, Sale of Ships (Sweet & Maxwell 2016)
  • Tørum A, Interpretation of Commercial Contracts (Universitetsforlaget 2019)
  • Tsolakis S, Cridland C and Haralambides H, ‘Econometric Modelling of Second Hand Ship Prices’ (2003) 5 Maritime Economics and Logistics 347-377
  • Eldred G and van der Vos E, ‘BIMCO SHIPSALE 22 – A Revolution in Ship Sale and Purchase?’ (Penningtons Manches Cooper 2022) https://www.penningtonslaw.com/news-publications/latest-news/2022/bimco-shipsale-22-a-revolution-in-ship-sale-and-purchase
  • Fjærvoll-Larsen A, Lutchmiah I, Page J, Axe Ø and Jebsen P, ‘ SHIPSALE 22—a familiar form in a new guise’ (Wikborg Rein 2022) https://www.wr.no/aktuelt/shipsale-22-a-familiar-form-in-a-new-guise
  • Mathiasen J, Bernitz G, Maclachlan W and Kazmi Z, ‘New Form on the Block – Shipsale 22: A BIMCO Standard Contract for Sale and Purchase of Vessels’ (HFW 2022) https://www.hfw.com/app/uploads/2024/04/004050-HFW-New-form-on-the-block-BIMCO-Shipsale-22.pdf
  • Moussalli M and Tindall D, ‘SHIPSALE 22 – The New Standard Agreement for Ship Sale and Purchase?’ (Clyde & Co 2022) https://www.clydeco.com/en/insights/2022/05/shipsale-22- the-new-standard-agreement-for-ship-sa
  • Afovos Shipping Co SA v. R Pagnan & Fratelli [1983] 1 Lloyd’s Rep. 335
  • Arcos Ltd. v. E.A. Ronaasen & Son [1933] AC 470, 478-480
  • Ashington Piggeries Ltd v. Christopher Hill Ltd [1972] AC 441
  • Ateni Maritime Corporation v. Great Marine Ltd. [1990] 2 Lloyd’s Rep. 245
  • Athens Cape Naviera S.A. v. Deutsche Dampfschiffahrtsgesellschaft “Hansa” Aktiengesellschaft and Another, The Barenbels [1984] 2 Lloyd’s Rep. 388
  • Belgravia Navigation Co. S.A. v. Cannor Shipping Ltd., The Troll Park [1988] 1 Lloyd’s Rep. 55
  • Bioconstruct GmbH v. Winspear and another [2020] EWCH 7 (QB)
  • B S & N Ltd (BVI) v. Micado Shipping Ltd (Malta) (The Seaflower) (No 1) [2001] 1 Lloyd’s Rep 341
  • Courtney & Fairbairn v. Tolaini Bros (Hotels) Ltd. [1975] 1 All ER 716 (CA)
  • Dalmare SpA v. Union Maritime Ltd (The Union Power) [2012] EWHC 3537 (Comm)
  • Darius [2011] 1 Lloyd’s Rep. 419
  • Davis Contractors Ltd. v. Fareham UDC [1956] AC 696
  • Derry v. Peek [1889] 14 App. Cas 337
  • Dewar v. Mintoft [1912] 1 KB 373
  • DHL Project and Chartering Ltd. v. Gemini Ocean Shipping Co. Ltd. [2022] EWCA Civ. 1555
  • Edwards v. Skyways Ltd. [1964] 1 WLR 349
  • Griffon Shipping Ltd. v. Firodi Shipping Ltd. (The Griffon) [2013] EWCA 593
  • Hinton v. Sparkes [1868] 3 LR 3 CP 161
  • Mardorf Peach & Co Ltd v. Attica Sea Carriers Corp of Liberia (The Laconia) [1977] AC 850
  • Mariola Marine Corp v. Lloyd’s Register of Shipping [1990] 1 Lloyd’s Rep. 547
  • Michael Hirtenstein, Il Sole Limited v. Hill Dickinson LLP [2012] EWHC 3537 (Comm)
  • MUR Shipping BV v. RTI Ltd [2022] EWCA Civ. 1406
  • Orion Insurance Co plc v. Sphere Drake Insurance plc [1990] 1 Llyod’s Rep. 465
  • Polestar Maritime v. YHM Shipping Co Ltd and Another [2012] EWCA Civ 153
  • Rainy Sky SA v. Kookmin Bank [2011] 1 WLR 2900
  • Sealace Shipping Co. Ltd. v. Ocean Voie Ltd., The Alecos M [1991] 1 Lloyd’s Rep. 120 (CA)
  • Smith v. Brown [1871] 40 LJQB 214
  • Sveriges Angfartygs Assurans Forening (The Swedish Club) and others v. Connect Shipping Inc and another (the “Renos”) [2019] UKSC 29
  • Tandrin Aviation Holdings v. Aero Toy Store LLC [2001] 2 Lloyd’s Rep. 668
  • The Anna Spiratou [1998] 2 SLR 536
  • The Blankenstein [1985] 1 WLR 435
  • The Buena Trader [1978] 2 Lloyd’s Rep. 325
  • Varverakis v. Compagnia de Navegacion Artico S.A. [1976] 2 Lloyd’s Rep. 250 (CA)
  • Yam Seng Pte Ltd v. International Trade Corp Ltd. [2013] EWHC 111 (Q.B.)

İkinci El Gemi Alım Satımlarında BIMCO SHIPSALE 22 Tip Sözleşmesinin Yorumlanması

Year 2024, Volume: 7 Issue: 2, 61 - 99, 31.12.2024

Abstract

2022 yılında Baltık ve Uluslararası Denizcilik Konseyi BIMCO tarafından yayımlanan gemi satış sözleşmesi taslağının (SHIPSALE 22) deniz ticaretinde değişen ihtiyaçların büyük bir kısmını karşıladığı yönünde yaygın bir kanı hakim olmuştur. Kullanılan önceki formlarda özellikle yeni gelişmelerin sözleşme taslağına dahil edilebilmesi için ek olarak birçok madde eklenerek taraflar mutabakat kurabilmekteydi. Bilhassa COVID-19 gibi olağanüstü durumlar söz konusu olduğunda veya ticari hayatta kullanılan elektronik imza vb. birçok yeniliğe cevap verilebilmesi amacıyla sözleşmeler neredeyse yeniden yazılmaktaydı. Tüm bu ihtiyaçlara binaen BIMCO tarafından ikinci el gemilerin alım satımlarında kullanılabilecek akıllı sözleşme formatında yeni bir alternatif sunulmuştur. Bu çalışmada ikinci el gemi alım satım süreci, bu hususta hukuki açıdan dikkat edilmesi gerekenler, özellikle SHIPSALE 22 hükümlerinin tümünün yorumlanması ve önceki benzer sözleşme formatlarıyla karşılaştırılması amaçlanmıştır.

References

  • Beale H, Chitty on Contracts (Sweet & Maxwell 2022)
  • Başkara M, ‘Türk Hukukunda Gemi Satış Sözleşmesi’ (Unpunlished PhD Thesis, University of Ankara 2024)
  • Bleyen L, Judicial Sales of Ships (Springer 2016)
  • Chatzis A, ‘The Sale and Purchase Shipbroker and the Hedonic Price Model for Second Hand Ships’ (Erasmus Rotterdam University, Master Thesis, 2010)
  • Cordero-Moss G, Boilerplate Clauses, International Commercial Contracts and the Applicable Law (Cambridge University Press 2011)
  • Debattista C and Lorenzon F, Sale of Ships under the Singapore Form (LexisNexis 2012)
  • Ekşi N, ‘Montreux Anlaşması Uyarınca Boğazlardan Geçen Yabancı Gemilerin Haczi ve Bu Gemilere El Koyulması’ (2017) 37(1) Milletlerarası Hukuk ve Milletlerarası Özel Hukuk Bülteni 125-184
  • Erdem F, Anonim Ortaklık Pay Satış Sözleşmeleri Özelinde Beyan ve Tekeffül Sigortası (Yetkin 2023)
  • Erdem F and Özturk M, ‘Utilising Warranty and Indemnity Insurance to Address Asymmetric Information’ (2023) 3(2) International Journal of Insurance and Finance 1-10
  • Hannaford M, Turner P and Goldrein I, Ship Sale and Purchase (CRC Press 2023)
  • Hannaford M and Paul Turner, Ship Sale and Purchase (Routledge 2023)
  • Institute of Chartered Shipbrokers, Ship Sale and Purchase (Short Run Press 2020)
  • Lorenzon F and Velasco A, ‘Shipbuilding, Sale, Finance and Registration’, Maritime Law (Informa Law 2014)
  • Osborne D, The Law of Ship Mortgages (Informa Law 2024)
  • Pınarbaşı B, ‘BIMCO SHIPSALE 22 VE NSF 2012 Gemi Satış Formu Karşılaştırması: Gemi Satışında Yeni Bir Ufuk Mu, Yoksa Sadece Bir Yan Ürün Mü?’ (2023) 66(7) Deniz Deniz Ticareti Dergisi 34-36
  • Soyer B and Tettenborn A, Ship Building and Finance (Informa Law 2016)
  • Stopford M, Maritime Economics (Routledge 2009)
  • Strandenes S, ‘The Shipbroking Function and Market Efficiency’ (2000) 2(1) International Journal of Maritime Economics 17-26
  • Strong M and Herring P, Sale of Ships (Sweet & Maxwell 2016)
  • Tørum A, Interpretation of Commercial Contracts (Universitetsforlaget 2019)
  • Tsolakis S, Cridland C and Haralambides H, ‘Econometric Modelling of Second Hand Ship Prices’ (2003) 5 Maritime Economics and Logistics 347-377
  • Eldred G and van der Vos E, ‘BIMCO SHIPSALE 22 – A Revolution in Ship Sale and Purchase?’ (Penningtons Manches Cooper 2022) https://www.penningtonslaw.com/news-publications/latest-news/2022/bimco-shipsale-22-a-revolution-in-ship-sale-and-purchase
  • Fjærvoll-Larsen A, Lutchmiah I, Page J, Axe Ø and Jebsen P, ‘ SHIPSALE 22—a familiar form in a new guise’ (Wikborg Rein 2022) https://www.wr.no/aktuelt/shipsale-22-a-familiar-form-in-a-new-guise
  • Mathiasen J, Bernitz G, Maclachlan W and Kazmi Z, ‘New Form on the Block – Shipsale 22: A BIMCO Standard Contract for Sale and Purchase of Vessels’ (HFW 2022) https://www.hfw.com/app/uploads/2024/04/004050-HFW-New-form-on-the-block-BIMCO-Shipsale-22.pdf
  • Moussalli M and Tindall D, ‘SHIPSALE 22 – The New Standard Agreement for Ship Sale and Purchase?’ (Clyde & Co 2022) https://www.clydeco.com/en/insights/2022/05/shipsale-22- the-new-standard-agreement-for-ship-sa
  • Afovos Shipping Co SA v. R Pagnan & Fratelli [1983] 1 Lloyd’s Rep. 335
  • Arcos Ltd. v. E.A. Ronaasen & Son [1933] AC 470, 478-480
  • Ashington Piggeries Ltd v. Christopher Hill Ltd [1972] AC 441
  • Ateni Maritime Corporation v. Great Marine Ltd. [1990] 2 Lloyd’s Rep. 245
  • Athens Cape Naviera S.A. v. Deutsche Dampfschiffahrtsgesellschaft “Hansa” Aktiengesellschaft and Another, The Barenbels [1984] 2 Lloyd’s Rep. 388
  • Belgravia Navigation Co. S.A. v. Cannor Shipping Ltd., The Troll Park [1988] 1 Lloyd’s Rep. 55
  • Bioconstruct GmbH v. Winspear and another [2020] EWCH 7 (QB)
  • B S & N Ltd (BVI) v. Micado Shipping Ltd (Malta) (The Seaflower) (No 1) [2001] 1 Lloyd’s Rep 341
  • Courtney & Fairbairn v. Tolaini Bros (Hotels) Ltd. [1975] 1 All ER 716 (CA)
  • Dalmare SpA v. Union Maritime Ltd (The Union Power) [2012] EWHC 3537 (Comm)
  • Darius [2011] 1 Lloyd’s Rep. 419
  • Davis Contractors Ltd. v. Fareham UDC [1956] AC 696
  • Derry v. Peek [1889] 14 App. Cas 337
  • Dewar v. Mintoft [1912] 1 KB 373
  • DHL Project and Chartering Ltd. v. Gemini Ocean Shipping Co. Ltd. [2022] EWCA Civ. 1555
  • Edwards v. Skyways Ltd. [1964] 1 WLR 349
  • Griffon Shipping Ltd. v. Firodi Shipping Ltd. (The Griffon) [2013] EWCA 593
  • Hinton v. Sparkes [1868] 3 LR 3 CP 161
  • Mardorf Peach & Co Ltd v. Attica Sea Carriers Corp of Liberia (The Laconia) [1977] AC 850
  • Mariola Marine Corp v. Lloyd’s Register of Shipping [1990] 1 Lloyd’s Rep. 547
  • Michael Hirtenstein, Il Sole Limited v. Hill Dickinson LLP [2012] EWHC 3537 (Comm)
  • MUR Shipping BV v. RTI Ltd [2022] EWCA Civ. 1406
  • Orion Insurance Co plc v. Sphere Drake Insurance plc [1990] 1 Llyod’s Rep. 465
  • Polestar Maritime v. YHM Shipping Co Ltd and Another [2012] EWCA Civ 153
  • Rainy Sky SA v. Kookmin Bank [2011] 1 WLR 2900
  • Sealace Shipping Co. Ltd. v. Ocean Voie Ltd., The Alecos M [1991] 1 Lloyd’s Rep. 120 (CA)
  • Smith v. Brown [1871] 40 LJQB 214
  • Sveriges Angfartygs Assurans Forening (The Swedish Club) and others v. Connect Shipping Inc and another (the “Renos”) [2019] UKSC 29
  • Tandrin Aviation Holdings v. Aero Toy Store LLC [2001] 2 Lloyd’s Rep. 668
  • The Anna Spiratou [1998] 2 SLR 536
  • The Blankenstein [1985] 1 WLR 435
  • The Buena Trader [1978] 2 Lloyd’s Rep. 325
  • Varverakis v. Compagnia de Navegacion Artico S.A. [1976] 2 Lloyd’s Rep. 250 (CA)
  • Yam Seng Pte Ltd v. International Trade Corp Ltd. [2013] EWHC 111 (Q.B.)
There are 59 citations in total.

Details

Primary Language English
Subjects Space, Maritime and Aviation Law
Journal Section Research Article
Authors

Fatih Bugra Erdem 0000-0001-8654-2684

Publication Date December 31, 2024
Submission Date July 28, 2024
Acceptance Date December 11, 2024
Published in Issue Year 2024 Volume: 7 Issue: 2

Cite

APA Erdem, F. B. (2024). Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase. DEHUKAM Journal of the Sea and Maritime Law, 7(2), 61-99.
AMA Erdem FB. Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase. DEHUKAMDER. December 2024;7(2):61-99.
Chicago Erdem, Fatih Bugra. “Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase”. DEHUKAM Journal of the Sea and Maritime Law 7, no. 2 (December 2024): 61-99.
EndNote Erdem FB (December 1, 2024) Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase. DEHUKAM Journal of the Sea and Maritime Law 7 2 61–99.
IEEE F. B. Erdem, “Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase”, DEHUKAMDER, vol. 7, no. 2, pp. 61–99, 2024.
ISNAD Erdem, Fatih Bugra. “Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase”. DEHUKAM Journal of the Sea and Maritime Law 7/2 (December 2024), 61-99.
JAMA Erdem FB. Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase. DEHUKAMDER. 2024;7:61–99.
MLA Erdem, Fatih Bugra. “Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase”. DEHUKAM Journal of the Sea and Maritime Law, vol. 7, no. 2, 2024, pp. 61-99.
Vancouver Erdem FB. Commentaries On BIMCO SHIPSALE 22 Standard Contract in Second-Hand Ship Sale and Purchase. DEHUKAMDER. 2024;7(2):61-99.