Whether merchants want to start shipping internationally or expand their existing fleets of cargo ships, buying used is a great way to save money. However, there are a few things merchants need to know before looking into used bulk carriers and other large ships.
Used Doesn't Mean Poor Quality
There's a common misconception among inexperienced merchants that buying new is the only way to get a high-quality ship that's guaranteed to perform up to their expectations. In fact, used ships must be rigorously inspected prior to sale, which means buyers who know what they're doing don't have to worry about winding up with an unseaworthy vessel. Plus, the new bulk vessels for sale tend to be prohibitively expensive for all but the largest international shipping firms.
Finding the Right Shipbroker Is Essential
Ships for sale are often listed online, but that doesn't mean buyers should try to go through the process alone. Finding a good shipbroker who can confidently negotiate on their client's behalf, oversee the inspections, and ensure that everything goes smoothly is the key to successfully purchasing high-quality ships. Without the help of an expert shipbroker, buyers will be left trying to sort out complex international regulations and contractual terms themselves, which can lead to disastrous consequences.
There May Be Multiple Options Available
In some cases, there may be multiple types of vessels that meet a buyer's demands. Take dry cargo vessels, for example. There are six major size categories of bulk carrier, each of which is typically used on different trade routes or to haul a particular type of cargo, and six different types of ship that fall into these size categories.
Merchants working with a fixed budget may want to expand their searches to include a maximum number of vessels. Bulk In, Bags Out bulk carriers are incredibly convenient, but gearless carriers tend to be far less expensive. Excluding all but the perfect categories of ships can leave merchants with far fewer options.
Ships Should Be Classed With IACS Members
There are dozens of classification societies, but members of the IACS tend to be taken more seriously. Buyers who need to borrow from ship financiers often find that they will only accept classification from International Association of Classification Societies members. When in doubt, ask a shipbroker for more details.
Finding the Right Ship Takes Time
Buying a used ship isn't like purchasing a used car. It takes some time to explore options, negotiate contract terms, perform inspections, and finalize agreements. Get the process started as soon as possible by contacting a shipbroker today.
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