Ship finance

Is there an argument for an industry standard on ship finance?

Malcolm Strong, partner at Ince & Co, London, questions how owners of substandard vessels gain access to finance RECENT well-publicised casualties have prompted various reflections, not least on the role of classification societies and how they and other regulatory authorities involved in shipping can be made to function better. But little attention has been paid to how...

New initiatives in French ship finance

Alain Gautron, partner at Watson, Farley & Williams, Paris, examines the current state of specialised shipping finance structures in France, including abolition of the quirat and the implications of new legislation designed to replace it. ALL the principal French banks have been active in the ship finance market over the last decade. Some have specialised in the domestic...

An old model with new opportunities

Dirk Trautmann, of Norton Rose, writing in the latest edition of the firm's 'legalseas' publication, says, “In 2003, KG companies achieved record investment levels, with equity collected reaching €2.3 billion. The prospects for this year also look good. This, combined with historically strong returns of KGs (with an average annual post-tax return of 15 per cent on equity) and...

Moving with the times

The Isle of Man has worked hard to change its tax regime over recent years. Simon Cain, partner at Isle of Man-based Dickinson and Cruikshank, looks at the advantages offered to the shipping community ABOUT four years ago, the Organisation for Economic Co-operation and Development (OECD) launched a project to investigate and tackle perceived tax havens around the world which...

Ship finance for a modern Russia

Gavin Stoddart, who runs the Russian offices of Moore Stephens International, explains why Russia is a better place to do business than ever before RUSSIA has had a bad year for financial publicity. The dispute between the Russian state and its largest company, Yukos, created a perception that Russia is a difficult place to do business. But that perception is wrong. For...

Know your risks

Duncan Bateson of Lawrence Graham LLP looks at what steps can be taken to reduce the country risk when investing in Russian shipping LENDING to Russian shipping companies raises the spectre of country risk and the resulting problem of availability and pricing of finance for the acquisition of ships. The country risk relates to what lenders perceive as inadequate protection for...

Step change in Chinese ship finance scene

EVERYWHERE you look someone is talking about China. But the one thing you don’t hear much about is China and ship finance. Well, hang on to your hat, because China can’t do everything at once, but its collective attention is now turning to the link between money and ships, and as with everything China does, the effect may be felt globally. Speakers at this year’s Shipping...