ISBN-13: 9781137465450 / Angielski / Twarda / 2016 / 430 str.
The International Handbook of Shipping Finance is a one-stop resource, offering comprehensive reference to theory and practice in the area of shipping finance. In the multibillion dollar international shipping industry, it is important to understand the various issues involved in the finance of the sector. This involves the identification and evaluation of the alternative sources of capital available for financing the ships, including the appraisal and budgeting of shipping investment projects; legal and insurance aspects of ship finance; the financial analysis and modelling of investment projects; mergers and acquisitions; and the commercial and market risk management issues involved. Edited by two leading academics in this area, and with contributions from 25 prominent market practitioners and academics over 16 chapters, this Handbook covers shipping finance and banking, maritime financial management and investments. As such, it includes: shipping markets; asset backed finance; shipbuilding finance; debt finance; public and private equity and debt markets; structured finance; legal aspects and key clauses of ship mortgages; marine insurance; mechanisms for handling defaulted loans; investment appraisal and capital budgeting; financial analysis and investment modelling; business risk management and freight derivatives; and mergers and acquisitions. Thus, the Handbook offers a rigorous understanding of the different aspects of modern shipping finance and maritime financial management and investments, the various characteristics of the available products, the capital needs and requirements, and a clear view on the different financial management strategies through a series of practical examples and applications. Technical where appropriate, but grounded in market reality, this is a must-have reference for anyone involved in shipping finance, from bank practitioners and commodity trading houses, to shipbrokers, lawyers and insurance houses as well as to university students studying shipping finance.
Table of ContentsPreface by EditorsManolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, GreeceIlias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden
Chapter 1: Shipping Markets and their Economic DriversJan-Henrik Huebner, Head of Shipping Advisory, DNV GL, Germany
Chapter 2: Asset Risk Assessment, Analysis and Forecasting in Asset Backed FinanceHenriette Brent Petersen, Head of Shipping & Offshore Research, DVB Bank SE, The Netherlands
Chapter 3: Overview of Ship Finance Fotis Giannakoulis, Research Vice President, Morgan Stanley, USA
Chapter 4: Shipbuilding Finance Charles Cushing, C.R. Cushing & Co. Inc., USA
Chapter 5: Debt Financing in ShippingGeorge Paleokrassas, Partner, Watson, Farley & Williams, Greece
Chapter 6: Public Debt Markets for ShippingBasil Karatzas, Founder & CEO, Karatzas Marine Advisors & Co., USA
Chapter 7: Public and Private Equity MarketsJeffrey Pribor, Global Head, Maritime Investment Banking, Jefferies LLC, USACecilie Lind, Associate Investment Banking, Jefferies LLC, USA
Chapter 8: Structured Finance in ShippingContributor: Ioannis Alexopoulos, Director, Shipping Financier, Eurofin Group, GreeceNikos Stratis, Managing Director of Augustea Group, UK
Chapter 9: Key Clauses of a Shipping Loan AgreementKyriakos Spoullos, Solicitor, Norton Rose Fulbright, Greece
Chapter 10: Legal Aspects of Ship Mortgages Simon Norton, Lecturer, Cardiff Business School, UKClaudio Chiste, Investec Bank Plc., UK
Chapter 11: Reasons and Mechanics of Handling Defaulted Shipping Loans and Methods of RecoveryDimitris Anagnostopoulos, Board Member & Director, Aegean Baltic Bank, GreecePhilippos Tsamanis, VP - Head of Shipping, Aegean Baltic Bank, Greece
Chapter 12: Marine Insurance Marc Huybrechts, Professor, University of Antwerp, Belgium Theodora Nikaki, Associate Professor, Swansea University, UK
Chapter 13: Maritime Investment Appraisal and Budgeting Wolfgang Drobetz, Professor, University of Hamburg, GermanyStefan Albertijn, CEO, HAMANT Beratungs-und Investitions GmbH, GermanyMax Johns, Managing Director, German Shipowners Association, Germany
Chapter 14: Financial Analysis and Modelling of Ship InvestmentsLars Patterson, Shipping Investment Analyst, Pacomarine Limited, UK
Chapter 15: Maritime Business Risk Management Manolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, GreeceIlias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden
Chapter 16: Mergers and Acquisitions in Shipping George Alexandridis, Associate Professor, ICMA Centre, University of Reading, UK Manish Singh, Manish Singh, Group Director - Strategy and M&A, V.Group Limited, UK "