This comprehensive course aims to provide participants with a better understanding on the various contractual agreements between the buyer and seller, the standard forms available, the negotiation process and parties involved from contract formation to sale, delivery and closing a contract. In addition, participants will learn about and evaluate the various ship financing options available and make the right decision on whether to go with either debt or equity funding, or consider going with sales and leaseback transactions to maximize cash inflows while maintaining shipping operations. With a focus on Rigs, FPSOs, Support Vessels, Accommodation Units and other specialist vessels, and tailored for offshore vessel owners, managers, brokers, charterers, bankers and legal advisers, the course is packed with comprehensive lecture, discussions and practical case studies and scenarios that are interspersed throughout the programme which delegates can learn and apply back in the workplace.

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Offshore Vessels
Sale & Purchase, Chartering and Financing
27 – 28 October 2014 | M Hotel, Singapore
Key Learning Outcomes
This seminar will focus on key financial and legal concepts applicable to S&P,
Chartering, Leaseback and Financing of vessels used in the offshore oil and gas
industry. In particular it will focus on Rigs, FPSOs, SupportVessels, Accommodation
Units and other specialist vessels.
• Understand key clauses in sale and purchase contracts and the commercial
issues associated with them
• Identify and compare between key S&P standard forms - Norwegian Saleform
93/2012, Singapore Ship Sale Form 2011 and Nippon Sale Form 1999
• Negotiate sale and purchase contracts successfully and examine financial
clauses and legal infrastructure
• Assess the advantages and disadvantages of vessel sales and leasebacks
• Evaluate key considerations in offshore vessel chartering including the
commercial and chartering risks associated with it
• Apply in greater detail the standard forms available including SUPPLYTIME
’89, SUPPLYTIME 2005, TOWCON, TOWHIRE, and learn how to choose the
right contract
• Gain a practical understanding on key chartering provisions such as liability,
indemnity, knock for knock, consequential losses, hire payment and early
termination
• Review the various vessel financing options, and apply the right solution for
your business
• Owners and operators of rigs, FPSOs,
accommodation units, support vessels
and specialist vessels
• Charterers – Offshore Oil & Gas,
Upstream E&P and Subsea
• Offshore EPC Companies
• Offshore Brokers
• Maritime Lawyers
• Financing and Investment Banks
• In-house Contract Administrators and
Legal Advisers
Ting Chi Yen is a partner based in Oon
& Bazul LLP where he heads the Firm’s
Corporate and Banking & Finance
Practices. He is an expert on ship finance
/ transactional work, and handles matters
in relation to financing, ship sale and
purchase, ship building, registrations and
mortgages in local and international ship
registries, charterparties, carriage and
freight management.
Who Should Attend
Course Director

2. IBC Training Academy
Train the Team! Save up to 40%
with our On-site Tuition
To talk through the many options available please call our
training specialist: Miki Kong
+65 6508 2477 onsite.training@ibcasia.com.sg
Want to send the whole team? Why not consider one of our On-site packages and save up to
40%! No matter where you are based in the region let IBC Asia bring our extensive faculty of
internationally recognised trainers directly to your door. Choose from any one of our 130+
public training courses and we will ensure a customised fit for your organisation. Either sign
up for an existing course, which we would be more than happy to alter to meet your needs,
or take our Tailor-Made option and let us build a course perfect for ensuring the delivery of
your company’s goals. (8 attendees or more)
IBC Maritime Training Academy is the Asian training division of IBC Asia, part of the
Informa Group and a public listed company in the UK. Informa’s main business is in the
specialist information providing for global markets. We operate in 70 countries, 150
offices worldwide with over 7000 employees. We have over 25 years experience in
providing innovative, focused and high quality business information and training
products designed to help you improve the way your business is managed.
REGISTER TODAY! +65 6508 2401 register@ibcasia.com.sg www.ibc-asia.com/offshorevessels
“All the information and ideas on the discussion is very helpful
in my work.The trainer is very well versed about the topics.
The participants of the training participates well that add more
ideas and information”
~ Petropac South East Asia Pte Ltd
“Cover in depth on my interest of work”
~ MISC Berhad
“Relevant topics to my job. Covers both time/voyage charters
and topics on documentation”
~ Mermaid Marine Asia
“Offers a commercial perspective to the industry. Historical
contract provided for the development of certain industry
practices and laws”
~ ExxonMobil Asia Pacific Pte Ltd
“Excellent presentation of the subjects. Questions are
answered”
~ Subsea 7 Singapore Contracting
Offshore vessel owners and operators continue to face numerous
business risks, specifically those relating to commercial contracts
and transactions. These includes complex transactions such
as vessel sale and purchase (S&P), ship finance, leasebacks and
chartering which requires extra attention to details when dealt with
as they can result in either substantial profit or make heavy loss
to parties involved due to the huge investment at stake and the
volatility of the offshore vessel markets.
Understanding the fundamentals of S&P agreements, ship financing
and leaseback issues and navigate through complexities in drafting
and negotiating chartering contracts are keys to maximizing profits
and minimizing losses.
This comprehensive course aims to provide participants with
a better understanding on the various contractual agreements
between the buyer and seller, the standard forms available, the
negotiation process and parties involved from contract formation
to sale, delivery and closing a contract. In addition, participants
will learn about and evaluate the various ship financing options
available and make the right decision on whether to go with either
debt or equity funding, or consider going with sales and leaseback
transactions to maximize cash inflows while maintaining shipping
operations.
With a focus on Rigs, FPSOs, Support Vessels, Accommodation
Units and other specialist vessels, and tailored for offshore vessel
owners, managers, brokers, charterers, bankers and legal advisers,
the course is packed with comprehensive lecture, discussions and
practical case studies and scenarios that are interspersed throughout
the programme which delegates can learn and apply back in the
workplace.
Ting Chi Yen, Partner, Oon & Bazul LLP
ChiYen heads the Firm’s Corporate and Banking & Finance Practices.
He deals with corporate and commercial matters covering cross-
border transactions and issues, including the incorporation /
structuring of companies and joint ventures, assets acquisition,
corporate governance, drafting and legal documentation and
advisory, corporate restructuring and employment matters.
He is also an expert on ship finance / transactional work, and
handles matters for shipping lines and banks in financing, ship
sale and purchase, ship building, registrations and mortgages in
local and international ship registries, charterparties, carriage and
freight, management, commodities and international trade.
His significant matters include:
• Acted as Borrower’s counsel in respect of the acquisition of
various vessels and as Lender’s counsel in respect of financing
granted to the Borrowers for the acquisition of the same,
involving the creation of Panamanian ship mortgages and the
restructuring / variation of the same over the course of the
transaction.
• Advising and assisting instructing counsels on Singapore-law
and Singapore ship registry requirements involving senior and
junior facilities granted by inter alia a Japanese bank and a
Japanese leasing corporation to a major shipping line for the
acquisition by a major Japanese shipping line of a new-build
bulk carrier (registered in Singapore) from a Japanese shipyard
by means of a sale and bareboat charter-back arrangement,
together with first and second-priority ship mortgages,
insurance and earnings assignments, share charge and
pledge over vessel-owning companies and a swap agreement
involving floating rate payments.
• Advised on a joint venture agreement between the two
largest RORO operators in the world and one of the world’s
largest port operators in relation to a RORO terminal worth
US$110 million.
• Representing international shipping lines and oil & gas
companies in the purchase and finance of rigs and various
types of vessels including LPG and crude tankers and the
registration of the vessels under various flag states.
• Acting for a local maritime company for the sale and
purchase of a shipyard in China worth over US$ 70 million
What Past Delegates Liked
About Our Offshore Courses
About the Course
About the Course Director
Offshore Vessels Sale & Purchase, Chartering and Financing

3. COURSE OUTLINE
Course Registration: 8:30am
Course Commencement: 9:00am
Course Conclusion: 5:00pm
Explanation ofTimings: These times act as a guide and may be modified slightly depending
on the depth of class discussion and whether assessments are being conducted.
Course Programme: This program is a guide and may be altered to better address
participant requirements on a consensus basis.
REGISTER TODAY! +65 6508 2401 register@ibcasia.com.sg www.ibc-asia.com/offshorevessels
IBC Training Academy Upcoming Training Courses!
Scan the QR Code with your
smartphone and download the
updated training calendar
Tug & Barge Chartering
25 – 26 August 2014, Singapore
28 – 29 August 2014, Jakarta, Indonesia
EPC Contracts – Negotiation, Administration
and Risk Management
22 – 23 September 2014, Jakarta, Indonesia
Maritime Law and Contract
Fundamentals
9 – 10 October 2014, Singapore
Fundamentals of Dynamic Positioning
29 September - 1 October 2014, Singapore
Sale and Purchase of Offshore Vessels
a) Introduction
• Outline of issues and parties involved in a
sale and purchase
• Timeline of major events
b) Standard forms
• NSF 1993 / NSF 2012
• Singapore Ship Sale Form 2011
• NEWBUILDCON
• Nippon Sale Form 1999
c) Common MOA clauses
• Place and time of delivery - Notices
(NOR), Cancelling dates and Delivery
location
• As is where is basis
• Inspections and condition on delivery
• Documentation
• Default clauses
• Arbitration / dispute resolution clauses
• Flag
• Boilerplate clauses
d) Negotiating the contract
• Negotiation
• Roles of contracting parties
• Letters of intent, Memoranda of
understanding (MOU) and Completion
e) Purchase price, deposit and payment
• Nomination of buying entity
• Security for buyer’s performance
• Security for seller’s performance
• Payment upon delivery / completion
• Common payment issues
f) Termination of contract
• Buyer in default
- Failure to pay deposit
- Failure to pay purchase price
• Seller in default
- Failure to tender valid notice of readiness
- Failure to effect a legal transfer
• Procedure breakdown
g) Other Contractual Issues
• Remedies
• Roles of S&P brokers as agents
• Duties and obligations of brokers, seller
and buyer
• Commission
• Confidentiality
Sales and Leaseback
a) Sale-leaseback transactions
• How it works - this involves the sales of
vessel to leasing companies which then
charter back the vessels to the original
shipping companies
• Advantages
• Disadvantages
b) Various types of ship leases:
• Bareboat charters
• Time charters/voyage charters/contracts
of affreightment
• Finance leases
• Operating leases
• Hire purchase
c) Role of leasing in shipping finance
• Structure of leasing and offshore trusts
• Special purpose companies
• Protection from insolvent state
Offshore Vessels Chartering
a) Primary considerations in offshore vessel
chartering
• Offshore chartering environment
- Offshore operations – Exploration &
Production
- Offshore vessels – OSV, FPSO, Drilling
Rigs and Accommodation Units
• Relevant contracts
- Time contracts
- Lump sum contracts
- Bareboat charters
b) Standard forms of charter contracts
• SUPPLYTIME 89/2005
• TOWCON
• TOWHIRE
• Primary features and differences between
the standard forms
• Other forms of offshore vessel contract
• How to choose the right contract to use
• Drafting and negotiating the charter
contract
c) Key contractual issues and provisions
• Liability, indemnity and knock for knock
• Hire payment, early termination and
withdrawal
• Condition of the vessel, maintenance
and equipment
• Vessel specifications
• Offshore crewing, manning cost and
responsibilities
• Accidents, salvage and pollution factors
• Offshore insurance and P&I claims
• Dispute resolution procedures and
choice of law
• Force majeure, lien and other common
provisions
Offshore Vessels Financing and
Purchasing
a) Vessel financing: Traditional vs. Current
funding options available
• Understanding the financing options
available to vessel buyers
• Overcome challenges in lack of ship
finances
• Managing ship finance risks
• Exploring alternative sources of finance
– private equity funds and Islamic
financing etc
b) Lending and security Issues
• Types of commercial loans used in
shipping finance
• Loan facilities
- Term period
- Loan to value ratio
- Repayment schedule
- Currency, interest rates and commission
- Syndication
- Warranties
• Standard terms in a ship mortgage
• Securities and bond issues
• Handling payment defaults and
decreased collateral value
c) Private equity investments in the
offshore vessel industry
• Direct equity or investment in companies
• Bridge and mezzanine financing for
shipping companies needing short-term
liquidity - finance between bank debt
and equity
• Debtor in possession – debt purchase
of operators or buying vessel fleets
• Joint ventures formed to acquire, manage
and sell shipping businesses.

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made in favour of “IBC Asia (S) Pte Ltd” and mailed to:
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PAYMENT TERMS
HOTEL INFORMATION
• Special Group Discount pricing is applicable to groups of 3 or more delegates from the same organisation registering for the same event, at the same time.
Fee stated is the discounted price PER DELEGATE. Only one discount applies - either the early bird rate OR special rate OR Special Group Discount.
• All fees stated include luncheons, refreshments and complete set of documentation. It does not include the cost of accommodation and travel.
• A 7% Goods & Services Tax (GST) is applicable to all Singapore based companies for Singapore venue.
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or provided by you, will be held on a database and may be shared
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Occasionally, your details may be obtained from or shared with
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to be used for this purpose, please contact our Database Department
at Email: database@ibcasia.com.sg, Tel: +65 6508 2400 or Fax:
+65 6508 2408.
CANCELLATIONS / SUBSTITUTION
Should you be unable to attend, a substitute delegate is welcome
at no extra charge. Cancellations must be received in writing at
least 10 business days before the start of the event, to receive a
refund less 10% processing fee per registration. The company
regrets that no refund will be made available for cancellation
notifications received less than 10 business days before the event.
IMPORTANT NOTE
Please quote the name of the delegate, event title and invoice
number on the advice when remitting payment. Bank charges are
to be deducted from participating organisations own accounts.
Please fax your payment details (copy of remittance advice, cheque
or draft to +65 6508 2407).
Attendance will only be permitted upon receipt of full payment.
Participants wishing to register at the door are responsible to ensure
all details are as published. IBC assumes no further liability or
obligation, beyond the refund of the paid registration fee, in the
event of postponement or cancellation by IBC.
If undelivered, please return to:
111 Somerset Road,
TripleOne Somerset #10-06, Singapore 238164
Tel: +65 6508 2400 Fax: +65 6508 2408
27 – 28 October 2014 | M Hotel, Singapore
6 EASY WAYS TO REGISTER
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register@ibcasia.com.sg
Customer Service Hotline
+65 6508 2401
Fax
+65 6508 2407
Web
www.ibc-asia.com/offshorevessels
MAIL the attached registration
form with your cheque to
IBC Asia (S) Pte Ltd
c/o Informa Regional Business
Services
111 Somerset Road, TripleOne
Somerset #10-06, Singapore
238164
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Offshore Vessels Sale & Purchase, Chartering and Financing
REGISTER TODAY! +65 6508 2401 register@ibcasia.com.sg www.ibc-asia.com/offshorevessels
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confidence, please do not send payment details by email.
M Hotel, Singapore
81 Anson Road, Singapore 079908
Tel: +65 6500 6202 / +65 9339 3854
Fax: +65 6224 3173
Contact person: Adrian Wong
Email: adrian.wong@millenniumhotels.com
P52103 WEB
Offshore Vessels Sale & Purchase, Chartering and Financing