Buyer's Guide: To Buy or Rent Life rafts
For this briefing paper our thanks go to Wilhelmsen Ships Service. These days the big question in acquiring liferafts is whether to buy or rent, says Dave Stebbing from the leading provider's Oslo office. Traditionally, ship owners and operators have bought liferafts and disposed of them when they are worn out or fail the annual IMO safety service. Until recently, there was no other option.
Now shipping companies have a choice - they can buy their own liferafts, or rent them on an annual basis. So what are the arguments for and against?