Study On Legal Aspects Of Ownership In Ship Financial Leasing

Financial leasing is one of the newest methods of equipment finance, and the method is widely used to acquire the right to use the equipment by most of developed countries and a few of developing countries. However, there is very little improvement upon financial leasing business in China, which is attributed to many reasons, and the most responsible reason is the absence of law about financial leasing. After Contract Law of the P.R.China was promulgated in 1999, financial leasing contract has been defined as a different contract from other kinds of commercial contract through the Fourteenth Chapter (Financial Leasing Contract) in Contract Law of the P.R.C. The development of ship financial leasing business is slower than the development of financial leasing business in other areas in China. While people get little acquaintance with financial leasing, and ship is very special equipment, disputes often occur on ship financial leasing business.This dissertation will examine the legal aspects of ownership in ship financial leasing. Chapter One states the feature of the legal relationship of ownership between the lesser and the lessee. Chapter Two distinguishes ship financial leasing from bareboat charter party and bareboat charter party containing lease-purchase clause by theories stated in Chapter One, discusses to whom the ownership of the ship under construction belongs is beneficial to the lesser, and states why registering of the ownership of the ship is very important for the lesser. Chapter Three probes into that the lesser has a very important right to take back the ship as the owner of the ship. Chapter Four analyses risks undertaken by the lesser, namely, Maritime Liens, Possessory Liens, and Civil Liability for Oil Pollution Damage. Finally, the author gets conclusions of this dissertation and gives some legal advice with a hope of getting some beneficial ideas for the development of ship financial leasing business in China.