Newbuilding

Newbuilding transactions require brokerage skills which are similar to but not identical to those required of sale and purchase brokers. Newbuilding brokers cultivate two essential client groups: shipbuilders and those who contract new vessels. A thorough familiarity with the world´s shipbuilding industry is a basic requirement for everyone involved in this field, and knowing what each shipyard is capable of building as well as availability of berths, prices, available options of onboard equipment, contract and financing terms are all absolute requirements for a professional newbuilding broker.

The path which leads from an initial idea about a purchase to a finalization of the deal involves many steps along the way, such as prequalification of shipyards, shortlisting, and contract negotiations. In addition to these, it may be necessary to assist the contracting party in researching the market for his new purchase, and once this is done, it may become necessary to develop a vessel concept adequate for the intended markets for the vessel. Not every newbuilding broker bothers to engage in concept development, but Fearnsale considers this to be an important part of the service it provides. As such, Fearnsale actively seeks the assistance of classification societies, researchers and analysts, and qualified engineers and naval architects to validate any ‘new´ vessels they help to market and sell.

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