Ship Finance

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• A1. Explain the international institutional framework of the law relating to ship finance and its relevance to the international maritime commerce.
• A4. Common forms of real security and personal security and their role in the structuring the financing of ship construction and ship purchase.
• A5. The role of personal security in the form of guarantees and performance bonds.
• A6. Powers and remedies of the lender in the event of the borrower’s default and/or insolvency.
• A7. Common issues affecting the financing of ship purchase and ship construction.
• A2. The core principles, concepts and doctrines of business finance law and their relevance to and impact upon ship finance transactions.
• A3. Common issues in loan agreements to finance to purchase or constructions of a ship.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• C4. Effectively communicate arguments in writing in the English language reference sources appropriately.
• C1. Undertake independent research and access primary and secondary sources effectively.
• C2. Analyse complex written texts and evaluate different types of argument
• C3. Construct arguments based on premises drawn from various sources.

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• B1. Analyse and critique core principles and doctrines of business finance law and their application to ship finance.
• B2. Analyse the structure and functions of security for the repayment of credit and their employment within ship finance.
• B3. Evaluate the implications of the international environment of the maritime industry upon effective financing and security vehicles.

The syllabus will focus upon loan financing for the purchase of an existing ship and the construction of a new ship.

• The core principles, concepts and doctrines of business finance law and their relevance to and impact upon ship finance transactions.
• Common issues in loan agreements to finance to purchase or constructions of a ship.
• Common forms of real security and personal security and their role in the structuring the financing of ship construction and ship purchase.
• The role of personal security in the form of guarantees and performance bonds.
• Powers and remedies of the lender in the event of the borrower’s default and/or insolvency.
• Common issues affecting the financing of ship purchase and ship construction.

Teaching and learning methods

Teaching methods include

• Weekly 2 hour seminars, incorporating tutor led discussion and opportunities for group and individual student presentations (the balance between individual and group presentations will depend on the number of students in the module).

Learning activities include

• Essential and additional directed reading, as per distributed reading lists provided on Blackboard ;
• Attendance at weekly seminars;
• Engagement with current legal or commercial developments to promote an understanding of contemporary issues affecting ship financing.

Resources & Reading list

Textbooks

Osbourne, Bowtle & Buss. The Law of Ship Mortgages. Electronic Form Via InformaCalnan.

Taking Security:Law and Practice. Jordans.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.