Gradually, the reputation of Bangladesh as a shipbuilding nation is growing internationally. As the industry grows so does the disputes between the shipbuilders and purchasers. Shipbuilding is a huge investment project involving joint effort and finance from Banks, overseas and local entrepreneurs etc. Local shipbuilders are now involved in shipbuilding works of both local and international customers keeping related service industry busy.
Legal service is often very crucial to conduct due diligence as to bank finance, foreign lending, builders and buyers company’s legal health, tax, VAT and customs matters and incentives for such major construction projects. Besides, shipbuilding contract being a complex construction agreement is mostly drafted by a lawyer so that it covers all aspect of local and international laws.
Shipbreaking industry alike shipbuilding industry is of vital importance as it produces raw materials to the steel industry, shipbuilding industry, local and south Asian several industries and others. Shipbreaking industry in Bangladesh has emerged rapidly primarily owing to economic labor cost. Shipbreaking industry involves environmental issues, commercial scrap contracts, sale of scrap items, ship breaking industries, personal injury cases, employer’s liability etc. Legal service is paramount to address the aforementioned issues revolving around the shipbreaking industry in Bangladesh.
The Chambers is playing a pioneering role in the shipbuilding legal services as it acted for a major foreign ship-owner for a period of more than 12 years and was able to successfully recover their million dollar claim against a local shipbuilder.