A Study On Mortgage On Ship Under Construction

In recent years, Chinese shipbuilding industry has developed rapidly, occupied an important place in this field, and the annual shipbuilding output has reached new height several times. Capital and technology are highly concentrated in the shipping industry, so that, in the process of ship construction, funding is a major trouble. Mortgage on ship under construction which do not transfer possession of the ship, at the same time, get the funding becomes the trends of international shipbuilding financing. However, in our country, the domestic legal system applied to this area is not perfect. In Maritime Code of PRC, there is only a slight mention of establishment of mortgage on ship under construction in Article 14. In Property Law of PRC, it is affirmed to establish mortgage on ship under construction. In Regulations of The people'Republic of China Governing The Registration of Ship, it is mentioned that when the ownership of the ship is registering, the construction contract is required. In Guaranty Law of the PRC, there is even no article about the mortgage on ship under construction. Years 2006, 2007,2008, "ship construction mortgage financing" tried out in Jiangsu, Shandong, Liaoning, Jiangxi and other places do not have the legal effect to adjust the mortgage on ship under construction across the country . Due to the lack of an adequate legal support, mortgage on ship under construction does not develop well. Therefore, in recent years, mortgage on ship under construction has become the focus of research on the field of maritime law. There are also many scholars study on it. So that, this thesis is striving to make a deep research in mortgage on ship under construction at the bases of the production of previous scholars. This thesis is divided into four chapters to probe into some important issues.The first part makes an overview of the mortgage on ship under construction. It analyses the meaning of the mortgage on ship under construction, introduces floating charge into this field, then concludes that the establishment of mortgage on ship under construction is reasonable and legitimate. Comparing the mortgage on ship under construction with mortgage on common ship, make a scientific understanding of the mortgage on ship under construction.The second part discusses the main body, the object of the mortgage on ship under construction. It focuses on comparative analysis of the international definition of starting time on the theory of the three,"keel placed theory","the first piece of steel plate cutting theory", "document theory", combines with the civil law theory and the practice of our country, points out that"the first piece of steel plate cutting theory"is more reasonable. It also makes a qualitative analysis of ship construction contract, then points out that it should be considered a mixed contracts. And build up a clear attribution of ownership of the ship on this base.The third part discusses the setting up and registration of the mortgage on ship under construction, and makes the specific suggestion about the condition of the registration, the documents what are needed to provide, and the items.The forth part discussed the realization of the right of mortgage on ship under construction. It analyses the effectiveness of the right of mortgage on ship under construction, and concludes that the traditional four methods are not enough to protect the mortgagee. The better method is the alienation of guaranty, which can reserve the right of the mortgage till the ship construction is over, meanwhile the value of ship achieves maximum.In this paper, the right of mortgage on ship under construction involved the key issues is researched systematically. I hope it will help to the development of shipbuilding industry.