We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close

7 SHIPBUILDING CONTRACTS AND RISKS

Modern Maritime Law Volume 2: Managing Risks and Liabilities

7

SHIPBUILDING CONTRACTS AND RISKS

1 INTRODUCTION

In the last decade, owing to high rates in freight and hire and the ban on single-hull tankers, the shipbuilding market boomed. The shipbuilding yards, especially those of Korea and China, were flooded with new orders for the construction, in particular, of major container ships, chemical tankers and double-hull tankers. Overcapacity, and the sudden emergence of the world economic crisis in 2008, caused a disturbance in trade, a sharp drop in freight rates and, consequently, the cancellation of contracts. Disputes resulting in court or arbitration proceedings were inevitable.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?

Devices

Request a trial Find out more