航运低谷期造船融资方式的探讨

发布时间：2018-02-27 03:22

本文关键词： 航运低谷期造船融资 ERN 成本核算路径选择　出处：《复旦大学》2013年硕士论文　论文类型：学位论文

【摘要】：航运业低谷期的特点受制于后金融危机的持续、经济贸易的萎缩、造船成本加重而价格降低等综合因素的影响,航运公司供过于求的情况显著,航运公司的运价低迷、运营亏损形势未能扭转,其可持续发展受到限制,造船融资途径受到约束。然而,在航运低谷期,面对不确定的航运市场,航运企业能否继续造船?本文研究指出,低谷期的造船策略对于航运企业,既是挑战又是机遇!决策的关键,离不开企业自身的风险分析,以及低谷期造船地融资成本分析。据此,本论文研究了航运低谷期造船融资方案的研究。本论文的研究内容分为四部分：第一,论文系统分析了航运和船舶产业的现状和发展,指出了航运低谷期的一些特点,并且总结了造船融资的概念和发展；第二,比较研究了造船融资的主要融资模式,并重点指出航运低谷期可行的融资模式选择,并且探讨了低谷期新型的融资方式(如夹层融资、船舶信托等)；第三,从企业系统风险和财务风险两个层面来讨论低谷期造船融资的方案,其中,论文引入了ERM(企业风险管理法)研究了系统风险,引入成本核算方法研究了融资风险,并提出了低谷期融资的路径选择；第四,在上述研究的基础上,结合低谷期可选择的融资模式,应用案例分析方法研究了低谷期造船融资的策略。本文研究不仅丰富了航运融资理论的研究内容,并且为相关行业及企业,如船运公司、造船企业还是金融机构等投资者等,在航运低谷期的决策行为提供重要理论和实践的参考依据,具有重要的理论和现实研究意义。
[Abstract]:The characteristics of the low period of shipping industry are affected by the persistence of the post-financial crisis, the contraction of economic and trade, the increase of shipbuilding cost and the decrease of price. The oversupply of shipping company is obvious, and the shipping company's freight rate is low. The situation of operating losses can not be reversed, its sustainable development is restricted, and the financing channels of shipbuilding are restricted. However, in the shipping trough, in the face of uncertain shipping market, can shipping enterprises continue to build ships? This paper points out that the shipbuilding strategy in the low period is both a challenge and an opportunity for shipping enterprises. The key to the decision is the risk analysis of the enterprise itself and the analysis of the financing cost of the shipbuilding land in the low period. Accordingly, this paper studies the shipbuilding financing scheme of the shipping valley period. The research content of this paper is divided into four parts: first, The paper systematically analyzes the present situation and development of shipping and shipbuilding industry, points out some characteristics of shipping trough period, and summarizes the concept and development of shipbuilding financing. It also points out the feasible financing mode of shipping trough period, and discusses the new financing mode (such as mezzanine financing, ship trust and so on). This paper discusses the scheme of shipbuilding financing from two aspects of enterprise system risk and financial risk. Among them, the paper introduces ERM (enterprise risk management method) to study the system risk, and introduces the cost accounting method to study the financing risk. And put forward the path choice of financing in the valley period, 4th, on the basis of the above research, combine the financing mode that can be chosen in the low period, This study not only enriches the research contents of shipping financing theory, but also provides the relevant industries and enterprises, such as shipping companies, shipbuilding companies or financial institutions, and so on. The decision-making behavior in the low period of shipping provides important theoretical and practical reference basis, and has important theoretical and practical significance.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F551;F831.2

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