Asset Risk Management In Ship Financial Leasing Business

As a sort of financial leasing,ship financial leasing is essentially the financial leasing of ships,and it is an innovative financing mode for shipping companies.The ship financial leasing business not only has the common characteristics of the financial leasing business,but also has its own unique characteristics due to the particularity of its underlying assets,such as the high value of the underlying assets,long return period,high operational risk,diverse business models,etc..At present,the global shipping market is in a period of shock consolidation after the super-recession,and with the global economic recovery,it is about to usher in a steady rise;while China's financial leasing market has experienced a high-growth period during 2015-2017 and entered the stable-development period in 2018.The introduction of relevant laws and regulations and regulatory policies have brought pain but also the new stage to the financial leasing industry.Therefore,in the era of opportunities and challenges in the global ship financing leasing market,enterprises should fully understand the risks faced by the ship financial leasing business and strengthen risk control and prevention.This paper selects the product tanker financial leasing project signed by BOC Financial Leasing Co.,Ltd.and the US listed shipping company STNG in 2018,and analyzes the risks faced by the project and the risk prevention measures adopted.GARCH(1,1)is combined with the VaR method to measure the shipping market risk and interest rate risk of the project.Based on the results of analysis and calculation,some suggestions are made for risk control and prevention in the ship financial leasing business,hoping to provide some references for the ship financial leasing companies.