Sale and purchase

Sale and purchase

S&P brokers handle the buying and selling of existing or new ships (called newbuildings, in industry parlance). S&P brokers discuss opportunities and market trends with shipowners, report on sales, value vessels, calculate freight earnings, advise on finance and endeavor to find ships for specific employment opportunities. When a ship is sold, brokers usually negotiate on behalf of the buyer and seller on price and terms and also provide a route to resolving any disputes which might arise. Some S&P brokers specialize in the sale of ships for scrapping, which requires a different set of skills.