chapter  9
60 Pages

THE LAW OF SHIP MORTGAGES

Ship mortgages are today distinctive contractual transactions, with voluminous documentation including the loan agreement, the mortgage, deed of covenants, assignments of earnings, assignments of insurance policies, guarantees, pledges or charges on other assets and the like depending on the circumstances of a particular transaction. The sophistication of their development has reached a level, which requires special expertise in financial markets.1