01/09 SeaTrials Issue 5
An overview of developments for shipyards
It is a sad fact that none of our shipyard clients reading this newsletter will have reached the end of 2008 without a number of shipowners requesting cancellation of contracts or seeking any excuse for avoiding contractual obligations. The situation may become worse during the first half of 2009, particularly with instalments becoming due on large vessels for which there is unlikely to be employment on delivery, and with many shipowners continuing to face financial difficulties and lack of credit.
In this issue:
- Coping with the credit crisis
- Return of Seller's Credit
- Latvian Reefers case summary
- Intellectual Property: a credit crunch strategy