The International Handbook of Shipping Finance

Theory and Practice

Editors: Kavussanos, Manolis G., Visvikis, Ilias D. (Eds.)

  • Combines the theory and practice of shipping derivatives, covering all possible aspects of the topic  
  • Features the leading practitioners and academics in this area
  • Appeals to practitioners across shipping, finance, insurance and law, who want to understand the different aspects of the business and how they impact each other
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  • ISBN 978-1-137-46546-7
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Hardcover $209.00
price for USA
  • ISBN 978-1-137-46545-0
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About this book

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

 

About the authors

Manolis G. Kavussanos is Professor at Athens University of Economics and Business (AUEB), Greece, Director of the MSc program in International Shipping, Finance and Management and of the Laboratory for Finance since inception, member of the steering committees of the MSc program in Accounting and Finance (A&F) and has been the Director of the MSc and PhD programs in A&F at AUEB for five years.

Ilias D. Visvikis is Professor of Shipping Finance and Risk Management, and Director of Executive Education and Professional Development at World Maritime University (WMU) founded by the International Maritime Organization (IMO), and also co-Coordinator of the Postgraduate Diploma in Executive Maritime Management jointly delivered by WMU and DNV GL.

Table of contents (16 chapters)

  • Shipping Markets and Their Economic Drivers

    Hübner, Jan-Henrik

    Pages 1-39

  • Asset Risk Assessment, Analysis and Forecasting in Asset Backed Finance

    Brent-Petersen, Henriette

    Pages 41-69

  • Overview of Shipping Finance

    Giannakoulis, Fotis

    Pages 71-94

  • Shipbuilding Finance

    Cushing, Charles R.

    Pages 95-124

  • Debt Financing in Shipping

    Paleokrassas, George

    Pages 125-145

Buy this book

eBook $119.00
price for USA
  • ISBN 978-1-137-46546-7
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $209.00
price for USA
  • ISBN 978-1-137-46545-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
The International Handbook of Shipping Finance
Book Subtitle
Theory and Practice
Editors
  • Manolis G. Kavussanos
  • Ilias D. Visvikis
Copyright
2016
Publisher
Palgrave Macmillan UK
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-1-137-46546-7
DOI
10.1057/978-1-137-46546-7
Hardcover ISBN
978-1-137-46545-0
Edition Number
1
Number of Pages
XLII, 430
Number of Illustrations and Tables
20 b/w illustrations, 86 illustrations in colour
Topics