Date of Award
Master of Science in Maritime Affairs
Maritime Administration & Environmental Protection
The dissertation is a study of ship mortgages as a means of ship financing and maritime liens being closely linked with and affecting this banking security. It is based on investigation of legislation governing maritime liens and mortgages in legal systems of different developed maritime nations and three international conventions dealing with these matters. The first part of the second chapter briefly outlines the possibilities of ship financing, showing that mortgage loans are still broadly used and very much preferred. The second part compares the differences between mortgages in the common law system and hypothecs in the civil law system, namely in the United Kingdom, the United States and France. The third part examines three conventions on maritime liens and mortgages from the point of view of their developments through the years in connection with the number of maritime liens, their enforcement and relation with mortgages. The third chapter aims to demonstrate and evaluate the strengths and weaknesses of the 1952 Shipping Act, which governs the shipping industry in Slovakia and is still in force. The same applies for the new Shipping Act, currently being drafted and completed to be passed by the parliament. Furthermore, it tries to disclose all deficiencies of the legislation and position of mortgages and maritime liens within its scope. Based on this analysis, the concluding chapter proposes and draws rules for statutory mortgages, recommends the basic requirements that should be included in the legislation, governing their execution or extinction as well as main clauses that appear in the deed of covenants. The same importance is granted to the consideration of adopting the latest convention on maritime liens and mortgages, making it part of the Slovakian law.