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
