When it comes to sale of second-hand tonnage, the 1987 and 1993 Norwegian Saleforms are predominantly in use throughout the world. Despite their popularity, over the years a fair amount of case law has emerged from these standard form contracts. The first edition of the book, written by two leading practitioners, was a welcome addition to the literature and has proved to be an invaluable reference book, particularly for those advising buyers and sellers of second-hand ships. The second edition of the book comes at a time when the second-hand ship prices are on a downward trend following the global credit crunch. Naturally, the buyers are keen to avoid or renegotiate their obligations under a sale agreement, bringing the spotlight firmly on the standard form contracts, especially those provisions dealing with the sellers’ default.

The second edition, like its predecessor, provides a detailed analysis of the Saleforms on a clause-by-clause basis. It is interesting to note that the detailed commentary on the 1987 Saleform has been retained throughout the book, even though the 1993 Form is now in use almost invariably. Given the marked similarities between these two versions and lack of legal authority (either case law or arbitration decisions) on many provisions of the 1993 Form, reliance on the 1987 Form is understandable and also justifiable. The new edition also offers a critical analysis on the impact of cases such as The Achilleas [2008] UKHL 48; [2009] 1 AC 61 and The Golden Victory [2007] UKHL 12; [2007] 2 AC 353 on the calculation of damages in case of the buyer defaulting on payment and The Zenovia [2009] EWHC 739 (Comm); [2009] 2 Lloyd’s Rep 139 on the notice requirement for the delivery of the ship.

A feature of the second edition is that the scope of the book has been extended by adding two new chapters to cover resale of shipbuilding contracts and sale of ships for recycling. Such transactions are becoming regular occurrences in practice. What makes writing on resale of shipbuilding contracts a particularly challenging task is the fact that such contracts contain a considerable variety of contractual provisions depending on the type and nature of the ship under construction, the shipyard in question and the progress of construction at the time of the sale. However, the authors provide a very succinct analysis on the types of clause that one would expect to see in such contracts. In similar fashion, contracts concerning sale of ships for recycling would often contain various detailed provisions that are designed to satisfy regulatory bodies and regulations that are applicable at the location where the scrapping will take place. The book again identifies the salient features of such contracts in an admirable fashion.

There is no doubt that the second edition consolidates the standing of this book as one of the leading practitioner texts in the field. The authors deal with the complex legal issues surrounding ship sale contracts with authority and accuracy, and with a continuing critical faculty. An excellent second edition. May there be many more.

B Soyer, Professor of Law,

Director of the Institute of International Shipping and Trade Law,

Swansea University.