A Study On Legal Issues Of Ship Financial Leasing Registration

The change to property rights ownership of ship arising from ship financial leasing raises the necessity for public registration.As for the object of such registration,this dissertation agrees to creditor's right,specifically the lessee's right,other than property right(including security right and right to use)or legal relationship.Ship financial lease and ship operating lease have certain discrepancies in respect of accounting and legal rights and obligations but affect property rights ownership of ship in a similar way,thus no need to establish separate registration type for each lease mode.Notwithstanding the popular objection to the practice of applying bareboat charter registration to ship financial leasing,this dissertation finds such practice reasonable and holds bareboat charter registration applicable to any ship financial leasing and ship operating leasing with bareboat condition.Bareboat charter registration with“financial leasing”note is sufficient to present property right ownership of the leased ship and the liability exemption of lessor.Lessor is capable to obtain security interest registration disturbed by bareboat charter registration through contract arrangement,also to make up the failure of bareboat charter registration in securing charterage claim by setting up single ship company.To optimize the registration regime of ship financial leasing,it is advisable to protect the expectancy right of lessee by limiting the ownership transfer right and the right of bareboat charter deregistration of lessor,to further isolate lessor from ship operating liability and to recognize the maritime department registration system as the unified registration system with stronger credibility.