Study On Legal Issues Of Establishment Of Mortgage On Vessel Under Construction

Recently, there have been some developments of the legislation and practice relating to the mortgage on vessel under construction in our country. But it is not an effective and applicable way of guarantee at present because of the limitations of the legislation.For studies on the legal system of the mortgage on vessel under construction, this thesis is divided into five chapters to discuss the legal issues in respect of the mortgage established on the vessel under construction from the perspective of the establishment of mortgage. The first chapter generally introduces the relative concepts of the right of mortgage on vessel under construction. By analyzing the transfer mode of ownership of the vessel under construction, this chapter also discusses the ways of establishment of mortgage. In chapter two, the legislation and practice of establishing mortgage on vessel under construction are introduced in detail. Chapter three is focused on the existing legal problems during the process of establishing the right of mortgage on vessel under construction in our country. This chapter discusses and analyzes the legal issues about the mortgagor, the subject matter and value of mortgage on vessel under construction on the basis of the aforesaid legislation and practice. Chapter four of this thesis introduces the practice of establishment of mortgage on vessel under construction in the world, including the provisions of the convention relating to registration of rights in respect of vessels under construction,1967 and the practices relating to the establishment of mortgage on vessel under construction in both civil law system and common law system. At last, on the basis of the aforesaid existing issues in our country and the practice in the world, the chapter five analyzes the feasibility of importing the floating charge and the alienation guarantee to our practice of mortgage on vessel under construction, concludes that we shall still adopt the traditional way of fixed mortgage in this field. Besides this, chapter five also proposes out some advises to improve the system of mortgage on vessel under construction.This thesis discusses the system of establishing mortgage on vessel under construction by way of analyzing and comparing the existed legislation and practice, and puts forward some suggestions, for purpose of exploring a system in favor of the national condition as well as normal practice.