Comparative Study On The Legal System Of Mortgage Of Ships

Ship mortgage financing has an important promoting role for the development of shipbuilding and shipping industry. While the legal predicament suffering by ship mortgage hinders the development of these industries. Based on the basic theory of mortgage system and comparing on ship mortgage legislation of different countries and areas, this dissertation, by using comparative research methods, system analytic method and law and economics analysis method, try to rebuilding ship mortgage system in china according to national conditions and present legal system.This dissertation has introduction, content of eight chapters and conclusion as follows:Chapter 1 introduces the origin of ship mortgage, analyses the characters of ship mortgage and differences with the relevant rights and gives a new definition of ship mortgage. Chapter 2 analyzes the differences on main body, object and the way of enactment in ship mortgage legislation of different countries and areas. And it also emphasizes the legal significance and necessary contents of ship mortgage contract. Chapter 3 analyzes the public confidence of ship mortgage registration under the registration confrontation doctrine, and also puts forward that remedy system for wrong registration and registration request system according to real estate registration. Chapter 4 analyzes ship mortgage's scope of validity and the validity to mortgagee and mortgager. It also puts forward benefit balance of all parties in transference and deal with the ship mortgage. Chapter 5 puts forward auction by court is the sole realizing way of ship mortgage and reasonable restriction to competitive rights. The scope of application of possessory lien on ship should be limited strictly. The priority of rights under bareboat charter party shall be determined by enacting time. Maritime liens' secret character has a severe impact to ship mortgage and it should be disclosed by program designing. Chapter 6 indicates that mortgage of a ship under construction shall be defined according to property scope rather than time standard. The realizing way of mortgage of a ship under construction shall be designed again according to current chattel mortgage system in China, combined with takeover system and transferring guarantee system. Chapter 7 discusses the necessity and possibility of introducing ship mortgage insurance. Chapter 8 indicates that the law of the flag state of the ship shall be applied to the mortgage of the ship's establishment and validity, while the law of the place where the court hearing the case is located shall apply to its realizing procedure. The law of shipbuilding ground shall be applied to the mortgage of a ship under construction's establishment and validity, while the law of the place where the court hearing the case is located shall apply to its realizing procedure.