Shipping Finance

• Preface 5Julie CleggJonathan WardStephenson Harwood LLPIntroduction 7Julie CleggStephenson Harwood LLPShip finance – the banker’s perspective 17Peter IllingworthThe financing of newbuildings 51Jonathan WardDanaë Hosek-UgoliniStephenson Harwood LLPThe financing of second-hand vessels 81Dora Mace-KokotaDanaë Hosek-UgoliniStephenson Harwood LLPThe sale and purchase of second-hand vessels 107James Foley-ComerDanaë Hosek-UgoliniStephenson Harwood LLPThe ship mortgageIntroduction 151Julie CleggStephenson Harwood LLPInternational contributionsBahamas 167Bermuda 173The People’s Republic of China 179Cyprus 185France 195Greece 201Hong Kong 209Isle of Man 217Liberia 221Malta 229Marshall Islands 237Norwegian International Ship Register 245Panama 251Singapore 263United Kingdom 269The assignment of insurances, earnings, charter rights and requisition 275Ian MaceStephenson Harwood LLPOther security 295Sheila ObhraiStephenson Harwood LLPRegistering the shipIntroduction 311Julie CleggStephenson Harwood LLPInternational contributionsBahamas 313Bermuda 323The People’s Republic of China 341Cyprus 355France 379Greece 391Hong Kong 409Isle of Man 425Liberia 433Malta 449Marshall Islands 459Norwegian International Ship Register 477Panama 489Singapore 511United Kingdom 529The role of insurance in shipping and ship financing 541Peter MellettBankServe Insurance Services LtdAn introduction to Islamic finance 597Nijoe JosephStephenson Harwood Middle East LLPChinese leasing 609Elton ChanStephenson HarwoodRestructuring shipping loans: a practical approach 623Keith R McRaeMCIBSAbout the authors 649Table of legislation 653Table of cases 663Index 667

This is an impressive, well organised book which appears to be aimed at practitioners rather than academics. It has plenty of standard documents and commentaries, and where necessary it considers individual clauses, terms and covenants. Case law is rightly footnoted rather than given centre stage in the chapters, and industry practice is discussed where appropriate.