OVERVIEW
Altinel handles the buying and selling of existing vessels in the secondary market or new ships (called new builds in industry parlance). Our brokers discuss opportunities and market trends with ship-owners, charterers, investors and bankers, report on market sales, vessel values, market trends and activity. When a ship-owner has a vessel to sell or is looking for a vessel to acquire, our shipbrokers will source the market for suitable tonnage, discuss with the counterparty or their broker the main points of a transaction and they eventually negotiate all the details.
During the negotiations, the ship brokers do not only negotiate the price of the vessel on behalf of the principals but also all the logistical details for the transfer of the title and the vessel herself to the buyers. During the negotiations minor disputes may have to be handled given that the market may be moving in favor of the buyer (vessel price is softening) or in favor of the seller (vessel price is strengthening) giving each party a reason to cancel the transaction. When shipbrokers act on behalf of passive investors or financial buyers, they may also have to advise and source employment for the vessels, a vessel manager and oversee such agreements.
