Chapter 7: Financing Ships & Companies

Course overview: the shipping business is highly capital intensive.  Merchant ships cost up to $200 million each, so capital plays a very big part in the business strategy of shipping … More

Unit 7.1: The characteristics of ship finance

In this opening unit of the lecture we review some of the distinctive features which make ship finance a … More

Unit 7.2: Shipping risk and financial structure

In this unit we study the character of the “shipping risk” which financiers have to deal with.  At … More

Unit 7.3: Where the money come from

Getting to grips with ship finance calls for a basic understanding of how the world financial system … More

Unit 7.4: Ship finance — private equity

This is a short unit, but a very important one.  Traditionally shipowners and shipping companies have relied … More

Unit 7.5: Ship finance — Bank Debt.

This unit discusses commercial bank debt, the traditional form of ship finance.  It covers who provides it; … More

Unit 7.6: Ship finance — capital markets

From time to time the shipping industry has made great use of capital markets as a source of funds.  But it is … More

Unit 7.7: Ship finance — special structures

In previous units the focus was on the way a conventional shipping company, either private or public, can … More

Unit 7.8: Case study — financing an Aframax tanker

Developing a structure is one thing.  Living with it in the real world is another.  Only time brings that … More
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