Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor | Graduate School of Business | en_US |
| dc.creator | Zhou, Zhiqiang | - |
| dc.identifier.uri | https://theses.lib.polyu.edu.hk/handle/200/5868 | - |
| dc.language | English | en_US |
| dc.publisher | Hong Kong Polytechnic University | - |
| dc.rights | All rights reserved | en_US |
| dc.title | Rough waters in post-crisis ship finance and its influence on shipbuilding industry | en_US |
| dcterms.abstract | This thesis concerns problems in current ship finance market. Ship finance is a constant driving force underlying the ebb and flow in shipping industry. Practitioners in ship finance market are playing at the crossroads of shipping market and financial market. The world financial tsunami has hit the ship finance market heavily. On the one hand, the crisis brought about a credit crunch and the liquidity of the capital market dried up, which threatened the provision of sufficient finance to shipping industry. On the other hand, financial crisis impacts the physical economy and the international trade. The demand for shipping service drops dramatically. The main motivation for the creation of this thesis is to clarify the chaotic situation in the current ship finance market and to probe its influence on the shipbuilding industry. The analysis of this study reveals structural changes in the ship finance market. Shipping bank loans shrank quickly. Traditional lenders now become more selective and conservative. On the other hand, the capital market comes to the rescue and becomes an important source of ship finance. However, a record large amount of new building orders impose huge demand for finance. Ship owners find increasing difficulties in securing enough money to finance the ships on order. The plague in ship finance after the financial crisis infects the shipbuilding industry severely. The survival of shipyards is under threat. This study contributes to the development of ship finance in the following aspects. Firstly, in this study a comprehensive picture of ship finance in post-crisis era is presented. Efforts have also been made to search the roots of the changes in post-crisis ship finance. Secondly, the review of the ship finance history and especially the previous ship finance super cycle casts light on the understanding of the whole process of the change and what the future direction would be. Thirdly, this study attempts to link the ship finance and shipbuilding industry together. The influence of the ship finance market on the shipbuilding market is identified. Last but not least, suggestions are raised in this study to solve the problems and break the deadlocks in current circumstances. Long-term perspectives are also provided in terms of the investment strategies of various stakeholders to avoid structural imbalance in ship finance. | en_US |
| dcterms.extent | vi, 116 leaves : ill. ; 31 cm. | en_US |
| dcterms.isPartOf | PolyU Electronic Theses | en_US |
| dcterms.issued | 2010 | en_US |
| dcterms.educationalLevel | All Master | en_US |
| dcterms.educationalLevel | M.Sc. | en_US |
| dcterms.LCSH | Hong Kong Polytechnic University -- Dissertations | en_US |
| dcterms.LCSH | Shipping -- Finance | en_US |
| dcterms.LCSH | Shipbuilding industry | en_US |
| dcterms.accessRights | restricted access | en_US |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| b23922552.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 939.67 kB | Adobe PDF | View/Open |
Copyright Undertaking
As a bona fide Library user, I declare that:
- I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
- I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
- I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.
Please use this identifier to cite or link to this item:
https://theses.lib.polyu.edu.hk/handle/200/5868