浅谈船舶融资租赁及其优势分析

船舶融资租赁作为一种全新的融资方式,近几十年在世界范围内得到迅猛发展,尤其是在大型固定设备、高科技产品等领域发挥了重要作用。对于航运业这样资本密集型的行业,利用融资租赁的方式进行船舶融资已经普遍得到重视。本文首先介绍船舶融资租赁的概念及优点,通过船舶融资租赁方式与传统的贷款购建船舶进行对比,比较采用不同的融资方式所产生的成本,从而分析出其可行之处。最后总结我国船舶融资租赁存在的几个问题,并给出了一些建议。     

购建船舶与融资租赁船舶的财务决策研究

自上世纪九十年代以来 ,融资租赁船舶由于其投融资的特殊性在我国航运企业逐渐增多 ,如何进行购建船舶与融资租赁船舶的财务决策成了航运经济界探讨的一个重要问题。提出一种购建船舶与融资租赁船舶的差异现金流量财务决策方法 ,建立了在相同的财务风险条件下 ,购建与融资租赁船舶财务决策过程中租赁租金支付的盈亏平衡点公式 ,对这一盈亏平衡点公式作了进一步的论证。举例表明 ,所建立的融资租赁船舶租金支付的盈亏平衡点确定公式可以使购建船舶与融资租赁船舶的财务决策变得便捷而有效 ,对于其他行业购置与融资租赁某一资产的财务决策同样可以应用。     

租船还是购船？——兼论船舶融资租赁的发展前景

本文从三个方面对贷款购入船舶和融资租赁取得船舶进行了比较，并对船舶融资租赁的发展前景进行了展望。     

船舶融资租赁实例分析

为推动我国航运业发展,针对当前航运企业资金链比较紧张的现状,分析融资租赁相对于贷款购建的比较优势,认为融资租赁对于航运企业资产结构调整有一定的积极意义,可以有效减少船舶营运前期的资金投入,改善现金流,降低因现金不足带来的财务成本,并举实例加以说明。     

中国第一只船舶产业投资基金诞生

中国第一支船舶产业投资基金，于2009年12月29日在天津举行开业仪式并投入运营。船舶产业投资基金是国际上通行的购建船舶资金来源和船舶运营成熟模式。船舶产业投资基金以多元化金融业务为依托，通过购建船舶并拥有船舶的所有权，并以出让或租赁等方式运营，为航运企业提供股权、债权等投融资服务，是国际船舶市场的主流投融资模式，是我国多渠道提高直接融资比重和加快发展航运业的重要渠道。     

国际航运业融资决策系列研究之六旧船购置融资的财务评价

国际航运业融资决策系列研究之六──旧船购置融资的财务评价邵瑞庆船舶转手迅速、旧船市场活跃、旧船价格大起大落已构成了现代国际航运业的主要特征之一。与新船购建相比较，船东也许更多地会遇到旧船购置问题。如何进行旧船购置的融资，如何对旧船购置融资进行财务评价...     

船舶融资ABC

本文概述了目前船舶市场上较常见的融资方式,包括商业银行贷款、政策性贷款、租赁、投资公司融资等及其优缺的.     

船舶融资ABC

本文概述了目前船舶市场上较常见的融资方式，包括商业银行货款、政策性贷款、租赁、投资公司融资等及其优缺的。     

发展船舶融资租赁 引领航运事业振兴

文中对船舶融资租赁进行了概述,分析了我国船舶融资租赁业发展中存在的问题,探讨了金融危机下发展船舶融资租赁的必要性,并据此提出了对策和建议。     

船舶融资租赁登记制度探究

船舶融资租赁是一种自成绿色的交易，兼具买卖，融资及租赁的法律属性，以融资为其经济实质，以光船租赁为其形式，光船租赁登记制度不能满足船舶融资租赁登记之要求，建立融资租赁登记制度富具现实性并能以此完善船舶登记制度，在光船租赁登记制度的基础上，笔者尝试提出建立融资租赁登记制度的法律框架。     

Lessons from bankruptcy of Hanjin Shipping Company in chartering

This paper aims to analyze the charter contract management of major container shipping companies in response to fluctuations in shipping market conditions in terms of contract duration using data of containerships between 2010 and 2016. Duration analysis was conducted to examine the relationship between charter duration and shipping market conditions. Moreover, this paper explores the causes of Hanjin Shipping Company’s bankruptcy, drawing managerial implications. Test results from Cox PH (Proportional Hazard) model show that most container shipping companies in Europe having net earnings purchased large vessels instead of chartering vessels, while some ocean carriers featuring poor financial performance, in particular the Hanjin Shipping Company, chartered bigger ships with higher charter rates and longer duration. Contract charter rates and duration of Hanjin Shipping Company featured greater risk compared to competitors.     

The pros and cons of leasing in ship financing

Ship leasing is as old as shipping itself. As a financing device it is an alternative to equity financing through ship mortgages. Ship financing methodologies are in themselves highly sophisticated, and within that domain, the principal varieties of leases, namely, the operating lease and the finance lease are both fairly complex mechanisms in terms of their respective uses. Ships are assets; as such ship leasing falls under asset financing and is subject to the fundamental rules of equipment leasing. But ship leasing also has its own distinctive characteristics not only in relation to the unique features of the shipping industry and ship financing, but also, the legal regime within which ship leasing operates. There are variations in the legal regime which in turn impact on economic considerations. Thus, there are pros and cons involved in ship leasing, and they depend on a number of variables. This article is an attempt to critically examine these pros and cons from the relative perspectives of theory-based economists on the one hand, and law and accounting practitioners on the other. To that end, a two-fold literature review of the subject area is presented. The article concludes that economists identify ship leasing with a positive tax advantage and an enhanced financial disposition of the lessee. In contrast, the views of practitioners are complex and inconsistent. It is evident that the literature focuses on the legal arrangements involved in these transactions. These legal arrangements stem from the inherent risks associated with ships and shipping operations and have led to some disadvantages with respect to ship leasing.     

远洋船舶在线监控系统的研究

由于船舶与公司岸基在地域上的分离,目前公司岸基尚不能对远洋船舶的安全营运进行实时、有效的监控。应用先进的计算机信息技术、通信技术和网络技术等,将船-岸安全监控管理有机地结合在一起,船-岸随时交互数据,协作管理业务,确保远洋船舶运输的安全高效。形成一个开放的集船舶监控、管理、决策于一体的远洋船舶在线监控系统,从而实现和提高远洋船舶的安全管理水平。以中远集团所辖船舶为实施对象开发成功了远洋船舶在线监控系统。     

船舶轴带发电机的应用及发展

根据航运船舶和大型船舶航行的特点,对船舶轴带发电机作为船用电站组成系统及其应用进行了分析,探讨了不同阶段的船舶轴带发电机的技术方案,分析了其经济性及节能减排效果,结合安装实例对船舶轴带发电机应用进行了评估,从船舶运营的经济性出发预测船舶轴带双馈发电机作为船用辅助电站的发展趋势。     

Maritime piracy in the Indo-Pacific region – ship vulnerability issues

This paper describes the current situation with piracy and armed robbery at sea in the Indo-Pacific region, particularly off the Horn of Africa and in Southeast Asia. This situation may be aggravated due to the downturn in international shipping following the global financial crisis. This has led to surplus shipping capacity, crews paid off, lower profits, and ship owners seeking to cut costs. Many ships are laid up in anchorages prone to sea robbery, and there is a risk that ships might be less well maintained and operated. This paper also explains how some ships are more vulnerable to attack than others. Sub-standard ships are more likely to be successfully attacked than quality vessels. Issues are identified that might be addressed by the shipping industry and ship owners, as well as by the International Maritime Organization (IMO). In addition to being a victim of piracy, the shipping industry could be adding to the problem by laying up ships in vulnerable areas, reducing wages and sizes of crew and employing sub-standard ships. This situation could be symptomatic of wider problems in international shipping that throw doubt on the effectiveness of current regimes for ship safety, security and marine environmental protection.     

Strategic alliances in container liner shipping

The economic crisis in the years between 2008 and 2010 has demonstrated the necessity for substantial adjustments on behalf of container lines. Capacities were shifted quickly to emerging and less affected markets allowing a faster recovery of globally organized companies. This paper illustrates the dynamics in the container shipping market. Alongside the main characteristics of the Top 20 ocean shipping companies, liner services are described. These services are classified by geographic coverage and vessel deployment. In addition, this paper provides a better understanding of the collaboration among service providers. Starting from a general framework of co-operative liner services, in-depth analyses of the global alliances in liner shipping are obtained. These formations - Grand Alliance, New World Alliance and CKYH Alliance - are compared with alternative forms of collaboration in the liner shipping industry. The analysis of alliance announcements which are related to operational and strategic changes indicates that the “global alliances” cannot be regarded as closed corporate-like entities. In effect, service agreements are not only negotiated with the focal members of the specific alliance. Instead, every service is arranged individually and under specific conditions. By understanding the dynamics within alliances, we are able to develop an assessment relating to the stability of collaborations. Ultimately, these insights direct us to several paths for future research.     

Fleet F-77在货物链海运环节应用的探讨

在全球化经济日趋一体化的今天，一旦货物链中的某个环节发生故障将产生连锁反应，导致多个国家地区以至全球经济的重创。海运由于其特殊性在当今货物链中扮演着极其重要的角色，而海运系统又是货物链中的脆弱环节，如何保证海运环节的通畅是保证整个货物链不断的关键。本着上述观点，探讨了Inmarsat新近推出的FteetF-77在保障海运通畅、保证全球货物链不断方面的重要应用，希望新技术业务的推出能对全球经济发展起一定的作用。     

中国船舶融资租赁生态链

国内船舶融资租赁业在经过了狂飙突进后正逐渐回归理性,如何使租赁业惠及各相关利益方,则要看国内突破制约力度和各企业创新的速度。＂这几年国内船舶融资租赁业迅猛发展,船舶订单也在反弹,可国内仍有不少船厂和船东愁眉不展,因为他们感觉这一切既在身边,却又距离他们很遥远。＂前不久在上海举办的一个航运金融论坛上一位参会人士的一句话,折射出了国内船舶融资租赁业在快速发展中遭遇的一些深层次问题。