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The Northern Sea Route as an alternative container shipping route: A hypothetical question or a future growth path?

In: The Northern Sea Route

Author

Listed:
  • Andreas Mietzner

    (Continental Chartering GmbH & Co. KG)

Abstract

Commercial ship financing is a century old, yet a risky business. It typically involves high leverage, with up to 80% of the vessel’s building cost financed by loans (Stopford, 2009; Verny and Grigentin, 2009), and is mostly organized by establishing a one-ship company that only holds one large asset (the ship itself) in its books. To securitize his loans, the financer will typically encumber this ship with a mortgage. Many one-ship companies (including their ship managers) do not have access to the vessel’s cargo. Their revenue is generated only by the operation and chartering of the vessel they own. Therefore, often not only does the ship itself but also the charter party contract serve as collateral for the loan.

Suggested Citation

  • Andreas Mietzner, 2015. "The Northern Sea Route as an alternative container shipping route: A hypothetical question or a future growth path?," Springer Books, in: Marcus Matthias Keupp (ed.), The Northern Sea Route, edition 127, pages 107-121, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-04081-9_7
    DOI: 10.1007/978-3-658-04081-9_7
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    Cited by:

    1. Lasserre, Frédéric & Beveridge, Leah & Fournier, Mélanie & Têtu, Pierre-Louis & Huang, Linyan, 2016. "Polar seaways? Maritime transport in the Arctic: An analysis of shipowners' intentions II," Journal of Transport Geography, Elsevier, vol. 57(C), pages 105-114.

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