__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 Contents**
**Preface by Editors**
Manolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, Greece
Ilias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden
**Chapter 1: Shipping Markets and their Economic Drivers**
Jan-Henrik Huebner, Head of Shipping Advisory, DNV GL, Germany
**Chapter 2: Asset Risk Assessment, Analysis and Forecasting in Asset Backed Finance**
Henriette 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 Shipping**
George Paleokrassas, Partner, Watson, Farley & Williams, Greece
**Chapter 6: Public Debt Markets for Shipping**
Basil Karatzas, Founder & CEO, Karatzas Marine Advisors & Co., USA
**Chapter 7: Public and Private Equity Markets**
Jeffrey Pribor, Global Head, Maritime Investment Banking, Jefferies LLC, USA
Cecilie Lind, Associate Investment Banking, Jefferies LLC, USA
**Chapter 8: Structured Finance in Shipping**
Contributor: Ioannis Alexopoulos, Director, Shipping Financier, Eurofin Group, Greece
Nikos Stratis, Managing Director of Augustea Group, UK
**Chapter 9: Key Clauses of a Shipping Loan Agreement**
Kyriakos Spoullos, Solicitor, Norton Rose Fulbright, Greece
**Chapter 10: Legal Aspects of Ship Mortgages**
Simon Norton, Lecturer, Cardiff Business School, UK
Claudio Chistè, Investec Bank Plc., UK
**Chapter 11: Reasons and Mechanics of Handling Defaulted Shipping Loans and Methods of Recovery**
Dimitris Anagnostopoulos, Board Member & Director, Aegean Baltic Bank, Greece
Philippos 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, Germany
Stefan Albertijn, CEO, HAMANT Beratungs-und Investitions GmbH, Germany
Max Johns, Managing Director, German Shipowners’ Association, Germany
**Chapter 14: Financial Analysis and Modelling of Ship Investments**
Lars 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, Greece
Ilias 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

lgrsnf/K:\!genesis\!repository8\sp\10.1057%2F978-1-137-46546-7.pdf

lgli/K:\!genesis\!repository8\sp\10.1057%2F978-1-137-46546-7.pdf

nexusstc/The International Handbook of Shipping Finance: Theory and Practice/bb356ea535b2880596bb473f8c2c1265.pdf

Kavussanos, Manolis G.; Visvikis, Ilias D.

Adobe InDesign CC 2015 (Windows)

Macmillan Education UK

Red Globe Press

Springer

United Kingdom and Ireland, United Kingdom

Springer Nature, London, 2016

Nov 23, 2016

lg1582443

producers:
Adobe PDF Library 15.0

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Source title: The International Handbook of Shipping Finance: Theory and Practice

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 Contents Preface by Editors Manolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, Greece Ilias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden Chapter 1: Shipping Markets and their Economic Drivers Jan-Henrik Huebner, Head of Shipping Advisory, DNV GL, Germany Chapter 2: Asset Risk Assessment, Analysis and Forecasting in Asset Backed Finance Henriette 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 Shipping George Paleokrassas, Partner, Watson, Farley & Williams, Greece Chapter 6: Public Debt Markets for Shipping Basil Karatzas, Founder & CEO, Karatzas Marine Advisors & Co., USA Chapter 7: Public and Private Equity Markets Jeffrey Pribor, Global Head, Maritime Investment Banking, Jefferies LLC, USA Cecilie Lind, Associate Investment Banking, Jefferies LLC, USA Chapter 8: Structured Finance in Shipping Contributor: Ioannis Alexopoulos, Director, Shipping Financier, Eurofin Group, Greece Nikos Stratis, Managing Director of Augustea Group, UK Chapter 9: Key Clauses of a Shipping Loan Agreement Kyriakos Spoullos, Solicitor, Norton Rose Fulbright, Greece Chapter 10: Legal Aspects of Ship Mortgages Simon Norton, Lecturer, Cardiff Business School, UK Claudio Chistè, Investec Bank Plc., UK Chapter 11: Reasons and Mechanics of Handling Defaulted Shipping Loans and Methods of Recovery Dimitris Anagnostopoulos, Board Member & Director, Aegean Baltic Bank, Greece Philippos 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, Germany Stefan Albertijn, CEO, HAMANT Beratungs-und Investitions GmbH, Germany Max Johns, Managing Director, German Shipowners’ Association, Germany Chapter 14: Financial Analysis and Modelling of Ship Investments Lars 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, Greece Ilias 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

Inc., USA Chapter 5: Debt Financing in Shipping George Paleokrassas, Partner, Watson, Farley & Williams, Greece Chapter 6: Public Debt Markets for Shipping Basil Karatzas, Founder & CEO, Karatzas Marine Advisors & Co., USA Chapter 7: Public and Private Equity Markets Jeffrey Pribor, Global Head, Maritime Investment Banking, Jefferies LLC, USA Cecilie Lind, Associate Investment Banking, Jefferies LLC, USA Chapter 8: Structured Finance in Shipping Contributor: Ioannis Alexopoulos, Director, Shipping Financier, Eurofin Group, Greece Nikos Stratis, Managing Director of Augustea Group, UK Chapter 9: Key Clauses of a Shipping Loan Agreement Kyriakos Spoullos, Solicitor, Norton Rose Fulbright, Greece Chapter 10: Legal Aspects of Ship Mortgages Simon Norton, Lecturer, Cardiff Business School, UK Claudio Chiste, Investec Bank Plc., UK Chapter 11: Reasons and Mechanics of Handling Defaulted Shipping Loans and Methods of Recovery Dimitris Anagnostopoulos, Board Member & Director

Front Matter....Pages i-xlii
Shipping Markets and Their Economic Drivers....Pages 1-39
Asset Risk Assessment, Analysis and Forecasting in Asset Backed Finance....Pages 41-69
Overview of Shipping Finance....Pages 71-94
Shipbuilding Finance....Pages 95-124
Debt Financing in Shipping....Pages 125-145
Public Debt Markets for Shipping....Pages 147-168
Public and Private Equity Markets....Pages 169-189
Structured Finance in Shipping....Pages 191-211
Key Clauses of a Shipping Loan Agreement....Pages 213-229
Legal Aspects of Ship Mortgages....Pages 231-252
Mechanics of Handling Defaulted Shipping Loans and the Methods of Recovery....Pages 253-266
Marine Insurance....Pages 267-283
Maritime Investment Appraisal and Budgeting....Pages 285-313
Financial Analysis and the Modeling of Ship Investment....Pages 315-335
Maritime Business Freight Risk Management....Pages 337-370
Mergers and Acquisitions in Shipping....Pages 371-413
Back Matter....Pages 415-430

2016-11-20