Sell a Vessel for Scrap: Valuation, Buyers and Contract Checks

An owner looking to sell an old ship for scrap needs a defensible comparison of net proceeds, buyer credibility and the intended recycling route. The highest headline price per ton may come with costs or legal dependencies that change the result. Wigmore Trading accepts marine asset disposal and procurement enquiries involving Nigeria, Africa and international counterparties. Any buyer introduction, brokerage mandate or logistics scope must be expressly agreed.

Start with the vessel dossier

Provide the vessel type, identity, flag, ownership position, present location and condition. Clarify whether it can navigate, needs towage or is a wreck requiring a different recovery scope. Tankers, bulk carriers, offshore support vessels and FPSOs can involve different residual materials, equipment and preparation requirements. Obtain qualified advice on title, liens and the authority of the selling party before inviting binding offers.

What does a scrap ship price per ton mean?

Ask the bidder to identify the weight basis and evidence supporting it. Light displacement, gross tonnage and cargo-carrying capacity are different measures and should not be exchanged casually in a valuation. A buyer should state what is included, any deductions, delivery conditions and price validity. No single online figure establishes what a particular vessel is worth today.

Compare net proceeds rather than a gross headline

Build a schedule of price, commissions, preparation costs, transit expenses, taxes and any deductions. Ask whether the offer changes after inspection or arrival and who bears that risk. Currency movements and delayed completion may also affect the result. An owner can compare a direct-yard proposal with an intermediary or cash-buyer proposal, but should understand the contracting chain and destination in each case.

Check the buyer and its authority

Verify the legal entity, beneficial ownership where appropriate, relevant experience and bank instructions through independent channels. Ask whether the counterparty buys as principal or acts for someone else. Do not infer authority from photographs, an informal buyer list or a forwarded letter. Qualified advisers should review the contract, sanctions exposure and payment arrangements before a sale is executed.

Contract terms that deserve attention

Define vessel identity, included equipment, condition at delivery, inspection rights, transfer of title and risk, payment milestones and failure-to-complete consequences. Address the permitted destination and required compliance evidence. A proposed ship auction, tender or private negotiation should preserve a clear audit trail. The exact contractual approach requires maritime legal advice and cannot be settled by a generic checklist.

Recycling compliance remains part of the sale

A vessel destined for dismantling can raise waste-shipment questions as well as maritime requirements. The Basel Convention overview explains the potential transboundary-waste dimension. Ask qualified advisers to determine the applicable route before contracting or moving the ship. A change of flag, buyer or destination is not a substitute for that assessment.

Ask Wigmore to scope the disposal enquiry

Send a non-confidential asset summary, seller authority, present location, desired timeline and the support needed. We can discuss sourcing counterparties, organising comparable quotations and related logistics requirements. Current buyer interest, achievable value and specialist capacity must be confirmed. This page is not a live purchase offer, a vessel valuation certificate or confirmation that Wigmore owns a recycling yard.