EU Signs the Convention on the International Effects of Judicial Sale of Ships

On the 14th March 2024, the EU signed this important Convention which will provide the purchasers of vessels and the financiers of purchasers in Judicial Sales, the required stability in what is becoming an increasingly challenging international shipping landscape.

The Convention seeks to ensure that purchasers can enjoy the use of their vessels without fear of re-arrest, can delete previous registrations, and can register their title whilst providing security for financiers.

Now, it is crucial that EU Member States follow suit and themselves sign the Convention.

Member States will have the opportunity to sign the Convention on the 19th June when Malta will be hosting a celebratory event and for which the UN Treaty Book will exceptionally be brought to Malta, enabling Member States to sign the Convention.

The CMI is of course delighted with this positive development and remains committed to delivering its objective being the Unification of International Maritime Law.