Suggested initial topic reading: Financial risk management in maritime finance The volatility of the maritime industry is well known, and this volatility has been further affected by changes in the financing of ships as banks become more cautious lenders.This study considers how shipping finance is likely to become increasingly involved in loan securitisation, which will bring new risks to ship owners.Suggested initial topic reading: A critical discussion of the use, for investment purposes, of standard deviation as a risk indicator Risk is a critical component of investing, and within the field of investment analytical tools are used to guide investment decisions.
This has been used because it can illustrate the volatility of a potential investment, and the correlated inherent risk associated with it, that can be correlated to its volatility.
Using predominantly secondary sources this dissertation charts the development of the standard deviation over the last forty years and evaluates its on-going appropriateness as a mechanism by which to evaluate risk in the post credit crunch era.
Suggested initial topic reading: Shipping finance in Singapore: A case study of current options Singapore is an international shipping hub, and ship-building remains a profitable activity on the island.
This study examines the options for ship owners based in Singapore who seek to finance new builds as well as reconstruction projects.
The dissertation suggests that firms need to maintain high cash flows if they are to remain compliant with covenants, and that banks restrict access to credit facilities where firms are found guilty of covenant violations.
This is a highly topical dissertation that can be moulded to a number of global arenas.
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According to Barrett (2011), ‘one of the financial instruments of mass destruction, commercial mortgage-backed securities (CMBS for short) were at the toxic heart of the credit crunch, providing a fast route to cheap debt…
but now, there are hopes that the real estate securitisation markets could creak back into life’ – a critical appraisal.