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Study On Legal Issues Of Shipping Financial Leasing

Posted on:2009-02-26Degree:MasterType:Thesis
Country:ChinaCandidate:X XuFull Text:PDF
GTID:2166360242487897Subject:International Law
Abstract/Summary:PDF Full Text Request
A SHIPPING FINANCIAL LEASING is a deal whereby the lessor, uponpurchase of the lessee-selected ship (or the technical criterion for ship building) froma lessee-selected seller, provides the ship to the lessee for its use, and the lessee paysthe rent. In practice, the shipping financial leasing has sorts of forms, including directfinancial leasing, sub-leasing, leaseback and leveraged lease, etc. On basis of thelegislation and practice of the shipping financial leasing, the author progressivelyanalyzes the legal nexus in the shipping financial leasing, and finds the features andlegal issues of its subjects, object (s), content and process.The subjects of shipping financial leasing involve financial services and shippingindustry. Therefore, the author describes both domestic and foreign regulationsconcerning financial supervision and analyzes their influence to shipping financialleasing. The author also studies the high risk character of shipping industry and theway to control its adverse effects to shipping financial leasing.As the object of shipping financial leasing, the ship is a kind of special chattel. Inprogress, the real right to a ship needs to be registered, otherwise, it may not defendagainst the claims of the third party, which raise a tough question to the shippingfinancial leasing. The author argues against the way of using bare ship charter to register a financial leased ship in law and practice. In substance, a ship is specializedfor its valuableness and long termed investment cycle, which easily scares theinvestors away. Therefore, the legislation and relevant policies of shipping financingin each country is crucial to catch the investors'eyeballs. The author comparativelystudies the legislation and special policies of shipping financing.As the content of the shipping financial leasing, rights and duties of each subjectsare not symmetrical, this character results in the lessor's ownership being restricted bysome special rights in maritime law. The author analyzes and resolves this problem.The shipping financial leasing has cumbersome process, consists of manyinterlocked steps including ship building, ship sale, bottomry loan, ship registry, shipoperation and capital return. To orderly link these steps, there are some globally usedmode of shipping financial leasing. In consideration of current situation of domesticlaw and market, the author studies the usability of one of the most popular modes-German KG shipping financial leasing mode.In the end, the author gives some advice to the domestic legislative reform ofshipping financial leasing on basis of the above legal issues, in order to promote thedevelopment and prosperity of domestic shipping financial leasing industry.
Keywords/Search Tags:shipping financial leasing, financial supervision, risks of shipping industry, shipping registry, shipping financing system, restriction to shipping ownership, German KG shipping financial leasing mode
PDF Full Text Request
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