Dates                                                                                
  
4 September 2008
13 February 2009
26 June 2009
11 September 2009                

 Course Overview

This seminar will provide participants with a through overview of the main methodologies behind the financing of ships.  It will cover not just the structuring of the finance but also the risk related issues which have great importance.  The various techniques will be given detailed consideration and the seminar will include a substantial case study on shipping finance at the end.

 Course Content

Introduction and Overview of Ship Finance
What are the options for financing ships?
What are the major sources?
What ancillary products are available from Banks?
How are financing products interlinked?
Conclusions

How are Shipping Companies Financed?
Current ship finance market
Financing strategy
Ship finance products
Types of senior debt
Vessel types
Lending methods
Transaction assessment
Internal risk rating and pricing models

Risk Assessments in Shipping Finance
How is Shipping Finance Perceived by Banks
Principles of credit assessment
Identifying the major players and key industry characteristics
Ownership Structures
Risk management: what are the key risks?
How do banks manage risks?
Risk rating models – the impact of BASEL II
Residual value risk

Financing Techniques
Newbuilding Finance
Mezzanine and Junior finance structures
Leasing:
   • What is a finance lease?
   • What is an operating lease?
Recourse versus Non-Recourse
High yield bonds
Securitisation
Limited partnership structures

Case Study:
Scenario prepared for breakaway groups to consider and present and discuss