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Ship Mortgage Financing And Related Insurance Guarantee Function Of Legal Research

Posted on:2008-01-09Degree:MasterType:Thesis
Country:ChinaCandidate:S S ZhuFull Text:PDF
GTID:2206360242969855Subject:International Law
Abstract/Summary:PDF Full Text Request
Ship is the soul of marine practice. It is inevitable for shipping companies with the aim of expansion to invest a lot to purchase or build ships, which brings the need of ship finance. However, ship finance is usually full of risks so that investors think twice before action unless there are active securities. Ship finance requires the perfection of security system.Ship mortgage, as a kind of security interest, plays an important role in ship finance. Mortgage and relative insurances can assure the investors of the fulfillment of the loan, so that they have the function of promoting ship finance. And it is significant to study how ship mortgage and insurances realize their effect of security.The dissertation focuses on the great demand of ship finance for debt security and analyzes the principles of security provided by mortgage and insurance. Meanwhile, the dissertation tries to find out and solve some problems in the present legislation and practice which may affect the effect of security so as to make mortgage and insurance more effective to protect the mortgagee's interest. The aim is promote ship finance by releasing the mortgagees of worrying about the realization of the loan.The dissertation is divided into three chapters.Chapter one elaborates the relationship between ship finance and mortgage. The characteristics of ship finance call for active security and ship mortgage just came into being to make the loan bonded.Chapter two is about how mortgage exerts its function. Firstly, ship mortgage is a security interest because it has an inherent character of priority over other claims, but in maritime law the priority maybe interrupted due to lack of registration or by maritime liens and possessory liens. Secondly, mortgagees should take actions to exert the function of security, but comparing to English practice, when and how to take action is quite different in China. In this chapter, the author also analyzes whether the difference may affect the function of security and if the English model is worth us learning.Chapter three concerns about the insurance's function in ship finance. Ship mortgage can not always assure the mortgagee of the realization of loan, as a result insurance is necessary. Here insurance consists of hull insurance and ship mortgage insurance. To be protected by the insurance, the mortgagee should have a clear idea of the mentioned insurances and the legislation should provide help by ascertain mortgagees' status in different insurance contracts and certain right or duty as well.In the dissertation, case study and comparative analysis are commonly used to discuss legal and practical problems concerning ship mortgage and relative insurances .After analysis, some shortages in legislation and practice are picked out and some suggestions of improvement are put forward. Owing to author's level some mistakes are inevitable. The author does hope the research in the dissertation can have an active effect on perfection of security for ship finance in the ship mortgage system.
Keywords/Search Tags:ship finance, security, ship mortgage, insurance
PDF Full Text Request
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