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S&P disputes to rise owners warned

S&P disputes to rise owners warned

Singapore: Far eastern shipowners have been warned of the possibility of increasing sale and purchase disputes. At seminars in Hong Kong and Singapore this week representatives of the North of England P&I Club and law firms Ince & Co and Mills & Co warned owners that as a result of recent rate volatility in the tanker and drybulk markets, secondhand tonnage values were likely to become increasingly volatile also increasing the potential for disputes under s&p contracts. The seminars, attended by a total of 250 delegates, are part of a series being conducted around the world by North of
England which now has 44 Far East owners in its memberships accounting for 417 vessels of 14m gross tonnes (20/10/06)

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