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Offshore Winds A Legal Barometer for Marine and Energy Business

Tag Archives: vessel finance

What’s done cannot be undone: The perils of e-mail confirmations of payments for vessel necessaries

Posted in Marine Services, Maritime Contracts, Ports & Cargo Shipping

Most contracts for the sale of goods and services contain a standard provision regarding the application of payments on overdue accounts, such as:  “When more than one invoice is past due at the same time, Seller shall be entitled, at its sole discretion, to specify the particular invoice to which any subsequent payment shall be… Continue Reading

When No Privity of Contract Qualifies as “Any Contractual Relationship” under OPA

Posted in Marine Services, Maritime Contracts

Transactions to procure supplies for vessels engaged in international trade typically involve numerous international and local brokers, agents and contractors.  The vessel operator or charterer will place an order for supplies with a broker.  The broker locates a seller with the best price and reputation in the vicinity of the vessel.  The seller makes arrangements… Continue Reading

A Checklist: What to Expect When Financing Vessel Construction

Posted in Marine Services, Maritime Contracts, Ports & Cargo Shipping

When seeking construction financing for a proposed newbuilding, shipowners should understand and be prepared to address the particular concerns that lenders have in assessing risk and documenting vessel construction projects. When deciding whether to approve a construction financing loan, lenders focus on certain key factors: Does the shipyard have the requisite experience, manpower and financial… Continue Reading