Research Ship Securitization Financing Legal Issues

This thesis will firstly give an introduction on the general shipping finance method and lead the new born shipping finance method——ship securitization. As an important financial innovation, the cam-cgm corporate asset backed securitization has evolved into a new financing instrument in global capital market. In 2006, BNP Paribas acted as sole arranger and bookrunner on this deal concerning the acquisition of 12 container ships representing a total investment of＄800 million. And Lloyd's Shipping Economist, an important publication in the Shipping sector, voted the securitisation programme for CMA CGM the "Most Innovative Shipping Finance Deal in 2006"In the field of ship finance, owe to the rapid development of the Chinese economic and trade, the ship transportation also developed quickly and the building and construction of the ship grew fast. There is a vast need of ship finance in the Chinese market. And it will followed with some legal issues and this article will focus on the legal condition on ship finance.Generally, this dissertation includes three parts including the presentation, text and the conclusion.The presentation will give a brief introduction on the ship finance and securitization. It centered on the ship finance market and the importance on securitization.The text includes four parts:The first part of the dissertation presents the basic problems of ship finance. At the first, the author introduces the basic conceptions of ship finance, the operation course, the equity finance and the bond. The securitization based on this market grow quickly; And then, the author presents the related knowledge on securitization in the purpose of understanding the ship securitization.The second part of the dissertation analyses cma-cgm ship securitization case and it can be divided into three parts. The first part is the brief introduction and background of the ship securitization; the second part of the article is the legal issue on the securitization. It centered on the jurisdiction of the securitization and the ship's owner right and syndication loan.The third part of the dissertation creatively summarizes the concept of the ship securitization and the characteristic and the reason of its happening.The forth part of the text is on the current condition of the Chinese ship finance market and legal condition. It exists many problems in this field and we shall raise some new method to solve the problem and give some suggestion on law enactment.The last part of the dissertation is the conclusion, which is china should improve the opening of the capital market and make more specific regulation on the ship finance.