Abstract
When a lender advances money to a shipowner, he or she needs to ensure that it is adequately protected and secured against the insolvency of the borrower, its failure to perform its obligations on a timely basis and the loss, or attachment by other creditors, of the ship. The owner, whose fundamental objective is to increase the return on his or her investment, is, by contrast, seeking to limit the lender’s interference with its business and to maintain the greatest flexibility in the conduct of its business and the operation of its ship.
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Bibliography
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Paleokrassas, G. (2016). Debt Financing in Shipping. In: Kavussanos, M., Visvikis, I. (eds) The International Handbook of Shipping Finance. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-46546-7_5
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DOI: https://doi.org/10.1057/978-1-137-46546-7_5
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Publisher Name: Palgrave Macmillan, London
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Online ISBN: 978-1-137-46546-7
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