Ship Finance – An Overview from Legal Perspective

Date: 17 August 2023, Thursday

Time: From 7:00pm to 10:00pm
Venue: Choose to attend by Zoom or in-person:
Conference Room of Ince & Co, Suites 4404-10, 44/F, One Island East,
18 Westlands Road, Taikoo Place, Hong Kong

Aim: This course aims to provide complementary knowledge to those candidates/in-service practitioners (staffs of Ship Owning Companies, Management Companies, Shipping and Commercial Banks, Leasing Companies, Traders/Charterers, Brokers, and Others) who intends to enrich their knowledge arising from and in connection with Ship Finance.

Main Features of the Syllabus:

Part 1: General Overview
The course introduces Students to the characteristics of ship finance, together with an overview of the relevant parties and the relevant equity and debt finance structures commonly found in the sector.

Part 2: Overview of Loan Documentation
A rundown of the relevant process and the relevant documents would be aimed at providing the Students with a bird’s-eye view of a typical shipping finance transaction.

Part 3: Anatomy of Facility Agreement and Risk Management
After providing the Students with the background knowledge, the course would then introduce key provisions of a term loan facility agreement, which underpins a typical shipping finance transaction. The remaining time would then be dedicated to clause-by-clause comments on terms that are commonly negotiated in practice, including the representations and warranties, undertakings, the conditions precedent, the ship covenants, and the events of default of a Loan Market Association-based facility agreement. These would include provisions relating to the corporate authority of the obligors and the underlying security, the vessel as well as terms before utilisation, and before / on the delivery of a vessel in construction). The course would focus on how ship finance loan documentation can manage the risks involved in a ship finance transaction.

Part 4: Overview of Mortgage Enforcement
As the principal form of security in ship finance, ship mortgage and its enforcement are also covered in this course. It discusses the relevant provisions in the ship mortgage and deed of covenant that trigger the enforcement rights. The course then concludes by going through several methods for lenders to secure its interests in difficult circumstances, including gaining possession of the vessel, ship arrest, private/ public sale, appointment of a receiver/ administrator, and foreclosure.

Instructors: WONG, Mo Yiu (Gary)
MOK, Lorraine
CHENG, Duen Lam (Simon)
CHEUNG, Tsz Yan (Jessica)
CHAN, YIN LING (Flora)
INCE & CO

(Please refer to the attached detailed CV of all of the Instructors)

Medium of Instruction:
English

Fees: By Registration:
HK$350 per person for Members
HK$400 per person for Non-members
The fee includes attendance in-person or online and e-documentation;
Payment receipt will be issued to each paid participant.

Award: Participants who achieve the 3-hour attendance will be awarded a Certificate of Attendance.
[MATF Refund is available for eligible participants.]
[Applying for CPD points by the Law Society of Hong Kong – to be confirmed.]

Application Procedure:
• Please complete the Enrolment Form
• Then, please email the completed form to: info@seatransport.org
 followed by post with payment, upon receipt of which we will send you confirmation by email
• Deadline for Enrollment is on or before 10 August 2023
• The course fee will not be refundable

Enquiries: Ms. Clair Wong T: 2581 0003 E: info@seatransport.org

Download enrolment form below:

IoS enrolform – Ship Finance – An Overview from Legal Perspective