FONASBA Endorses Revised Norwegian SALEFORM

1 March 2012

The Federation of National Associations of Shipbrokers and Agents, (FONASBA), has given an enthusiastic endorsement to the newly released SALEFORM 2012 developed jointly by the Norwegian Shipbrokers Association (NSA) and BIMCO.

SALEFORM is the shipping industry’s most widely used agreement for the sale and purchase of second hand ships. SALEFORM 2012 builds upon SALEFORM 93 retaining the accepted general principles and familiar structure.

Congratulating NSA, a Full Member of FONASBA, and BIMCO, a Club Member, on their actions to update the most successful sale and purchase agreement on the market, the President of FONASBA Christakis P. Papavassiliou from Cyprus said:

“At FONASBA we are pleased and proud to support publication of the revised NSF 2012, a document whose development reaffirms the position of NSA and BIMCO at the forefront of our profession. The enthusiasm and professionalism shown by these two FONASBA members in taking the updating project forward reflects this Federation’s commitment to the maritime industry in terms of professional integrity and quality of service. FONASBA fully endorses the revised SALEFORM 2012 and has already called upon its members in 49 countries around the globe to support it.”

Echoing the President’s comments, Marygrace Collins of the USA, Chair of the FONASBA Chartering & Documentary Committee and the Federation’s President Designate added:

“We are confident that the initiative taken by the NSA together with BIMCO will ensure that the NSF remains the premier document of choice for S&P transactions worldwide.”

For further details please contact Jonathan C. Williams FICS, FONASBA General Manager

Tel: + 44 20 7623 3113

E-mail: generalmanager@fonasba.com

Notes to Editors

FONASBA is the only organisation representing the global ship agency and ship broking professions. Established in 1969 it now has members in 45 countries, including all major maritime and trading nations. Its remit is to “promote and protect the professions of ship agency and ship broking worldwide”, a task which it undertakes through dialogue with its member associations and its consultative status with IMO, UNCTAD, UNCITRAL and the World Customs Organisation, as well as through close and regular dialogue with the European Commission and other regional bodies. FONASBA also enjoys reciprocal memberships with the Baltic Exchange, BIMCO, INTERTANKO, indemnity insurer ITIC and the Shipbrokers’ Register and works closely with other bodies, both internationally and in Europe.