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In marine design, ‘caveat emptor’ is not good enough

MANY years ago, the ship financier Paul Slater suggested that you were able to obtain a far more comprehensive guarantee on an electric toaster than was available for a new merchant ship costingumpteen million dollars. There are many other facets of the purchase of ships that seem, to the lay person used to a certain relationship between the customer and the purchaser, very peculiar and a tad unsatisfactory.

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