The Role of Unconventional Financial Methods in Developing the Syrian Maritime Merchant Fleet


Abstract in English

The Syrian merchant fleet has experienced severe conditions in the last years due to the impacts of the world economic crisis, the hostile western sanctions imposed on the fleet units, and the increasing trend by many Syrian ship-owners to sell their ships. Hence, this research has been prepared to examine the role of unconventional financial methods and their role in the process of getting the different brands and models necessary develop the Syrian merchant fleet; primarily containership. The research concluded that the high prices of ships and the difficulty of finding the huge investments required for the direct purchase of models, brands and loads necessary made more difficult for developing countries , like Syria, to pursue the style of direct purchase of ships. So the research displays and analyses a number of unconventional financial measures through which it becomes possible to develop the Syrian merchant fleet and override the difficulty of direct purchase are to be used to overcome this difficulty. These measures may include time charter, voyage charter, bareboat charter, financial leasing ,and legislating the laws necessary to organize these measures. The research asserts that Syrian economic sectors should strongly support the fleet by offering facilities and support for the fleet development process, moreover , commercial banks should work on rescheduling the loans of troubled shipping companies which suffer difficulties due to the above mentioned reasons .

References used

ISL Shipping Statistics and Market Review, International Institute of Shipping and Logistics, Bremen , Germany ,2012, P.14
UNCTAD, “Container Ship Leasing”, TD/B/C.4/AC8/12, September, 2009
Scrutton on Charter Parties and Bills of Lading, 20th Edition, London: Sweet & Maxwell, 1996, P.236

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