Maritime Law Center

Our firm works with individuals, corporations, shipping companies and universities in selling and acquiring, transferring and evaluating vessels in all parts of the world.

    Mike Vaughn
    Vaughn Law Offices
    17011 Beach Blvd., Suite 900
    Huntington Beach, CA 92647
    Phone:  562-592-9350
    Email: mike@vaughnlawoffice.com

     

The Business of Yachting & Shipping

  • THE BUSINESS OF YACHTING AND SHIPPING
    By Mike Vaughn
    150 Pages

About the Author:
Mike Vaughn is a Maritime Attorney based in Huntington Beach, California whose practice is restricted to maritime business and vessel acquisition and sales.

Synopsis of the Book:
This is an important reference book for anyone involved in the acquisition and sale of yachts and ships. It provides a detailed, step by step series of forms to deal with almost any situation.

Table of Contents

INTRODUCTION

Chapter 1 -- Yachts - Boats - Ships

Chapter 2 -- Sailing & Power Yachts

  • Sailing Yachts
  • Power Yachts
  • Selecting the Right Yachts
  • Sailing Goals
  • Sail vs. Power
  • Maintenance Costs
  • Monthly Maintenance
  • Annual Expenses
  • Bi-Annual Expenses
  • Other Costs
  • Evaluating a Yacht

Chapter 3 -- Purchasing a Used Yacht

  • Figure 1 – Offer to Purchase
  • Broker Fees & Commissions
  • Selecting a Surveyor
  • The Sea Trial
  • Closing
  • Title
  • U.S. Documentation
  • Taking Title
  • Sales Tax
  • Insurance
  • Certificate of Documentation
  • Additional Information

Chapter 4 -- Building a New Yacht

  • Manufactured Boats
  • Customized Manufactured Boats
  • Building a Custom Boat
  • Speculation Boats
  • Shipyards
  • Selecting a Shipyard
  • Sales Tax

COMMERCIAL SHIPS
Chapter 5 -- Commercial Ship Design and Evaluation

  • Commercial Ship Design
  • Tonnage
  • Load Line
  • Evaluating Ships
  • Classification Societies
  • Major Societies
  • Lloyds
  • American Bureau of Shipping (ABS)
  • Societal Codes
  • Surveyors
  • Hull Survey
  • Machinery Survey
  • Marine Consultants
  • Safety of Life at Sea (SOLAS)
  • Market Evaluation of Commercial Ships
  • Current Market Value

Chapter 6 -- Types of Commercial Ships

  • Cargo Ships
  • Bulk Carriers
  • Break Bulk Cargo Ships
  • Container Ships
  • Tankers
  • Specialized Cargo Ships
  • Ro/Ro
  • Refrigerator Ships
  • Passenger Ships
  • Cruise Ships
  • Small Passenger Vessels
  • Excursion Boats
  • Passenger Ferry / Auto Ferry
  • Gambling Vessels
  • Work Boats
  • Tugboats
  • Offshore Supply Vessels
  • Utility Boats
  • Crew Boats
  • Pilot Boats
  • Fire Boats
  • Research Ships
  • Fishing Boats
  • Trawlers / Seiners
  • Longliners
  • Processors / Factory Ships
  • Non-Self-Propelled Vessels
  • Hotel Ships
  • Floating Dry Docks
  • Dredges
  • Barges

REGULATION, REGISTRATION, DOCUMENTATION & CERTIFICATION
Chapter 7 -- Vessel Regulation, Registration, Documentation & Certification

  • U.S.C.G. Documentation
  • Commercial Ship Registration
  • Citizenship of Owner
  • The Certificate of Documentation
  • Figure 2 - Certificate of Documentation
  • Foreign Registration
  • Figure 3 – Foreign Registry
  • Permission for Sale to Foreign Buyer
  • The Jones Act
  • Sales Tax & Miscellaneous Regulations
  • Sales Tax
  • California Sales Tax
  • Pollution
  • Liabilities & Warranties
  • Salvage Claims

Chapter 8 -- Vessel Charters

  • Bareboat or Demised Charters
  • Time or Voyage Charter
  • Sale Charter

Chapter 9 -- Marine Financing

  • Conventional Marine Financing
  • Types of Lenders
  • Yacht Lenders
  • Manufacturer Lenders
  • Lenders of Last Resort
  • Venture Capital
  • Applying for a Maritime Loan
  • Alternative Types of Financing
  • Owner Financing
  • Charter with Purchase Options
  • Leasing

Chapter 10 -- Mechanics of the Sale

  • The Purchase Process
  • Purchase Agreement
  • Norwegian Sales Form
  • Yacht & Ship Brokers
  • What Should You Expect from Your Yacht Broker?
  • Surveyors
  • Classification Surveyors
  • Documentation Service
  • Maritime Liens & Ship Mortgages

Chapter 11 -- First Preferred Ship’s Mortgages

  • Foreclosure of a Ship’s Mortgage
  • First Preferred Ship’s Mortgage Form

Chapter 12 -- Seller’s and Buyer’s Checklists

  • Checklist for Sale of Vessel
  • Checklist for Purchase of Vessel

Chapter 13 -- Glossary of Maritime Terms

  • Reference