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Untitled Prezi

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by

Fabian Reimers

on 4 March 2013

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Transcript of Untitled Prezi

The Framework Ship owner Ship financing by the KG Model Charterer Legal Owner of a
merchant vessel Shipping company
Investment fund Company that employs a ship
to transport cargo Dry bulk Bulk carriers Liquids in bulk Tankers Non-bulk cargo Container Ships Shipping lines Tramp operators Ship manager Crew
Technical management
Insurance
Additional services Ship owner Charterer Ship $90 MM $55 MM Around 60% financed are by bank loans Kommanditgesellschaft (KG) Limited partnership General Partner Limited Partner Unlimited liability Limited liability Liability is limited to
their fixed contribution Fully liable for the
partnership's debt Managing partner Participating in the profit and loss
proportionally to his capital share
compared with the partnerships total equity Only participating with equity Income of the partners is being taxed,
not the income of the firm 40% private equity Ship financing by the KG model The KG Model Shipping Company Trustee administers invested
equity for it's investor Ship fund launches KG GmbH & Co. KG Investment
corresponds
to the equity
of the GmbH
&Co.KG Private Investors limited partners Private Investors establishes Low taxation for ships 0,1 % bis 0,4 % of contributed equity The worlds third largest merchant fleet - 3.100 ships 48% of Germany's current fleet is financed by KG-ship funds Was established in the 1970's to raise private
equity for the financing of projects Highly significant to
German shipping performance of investment is highly
dependent on the global economy HSBA Shipping GmbH & Co. KG HSBA Treuhandgesllschaft mbh time charter agreement with a shipping line The KG market today Many KG's face insolvency Charter rates barely cover operating expenses Many KG ships are unemployed Bank loans cannot be redeemed More than 120 German single-ship KG's filed for insolvency by now, at least 270 are in the process of financial rehabilitation. Currently 800 funds are threatened with insolvency. Hardly any new ship funds are launched Many KG's face insolvency Capital provided for conventional ship-funds by banks and private investors is very limited Green shipping funds Hardly any new ship funds are launched Blessing and curse to the Germany's
shipping industry Sources Online sources:
http://www.soefart.dk/gfx/Tanker_Market.pdf (last used February 24,.2013)
http://imagenessss.com/wallpaper/Vlcc/ (last used February 24, 2013)
http://www.freightdawg.com/2007/02/hidden_costs_of.html (last used February 24, 2013)
http://www.investopedia.com/terms/t/trustee.asp#axzz2LtateIee (last used Feb, 25.2013)
http://www.hansatreuhand.de/Structure-of-German.573.0. (last used February 24,.2013)
http://www.scope.de/scope/download/scope_circles/unterlagen/GeneralConference2011/Fachvortraege/04_LloydFonds.pdf (last used February 25,.2013)
http://www.bsh.de/de/Schifffahrt/Berufsschifffahrt/Deutsche_Handelsflotte/index.jsp (last used February 25,.2013)
http://www.telegraph.co.uk/finance/newsbysector/transport/9473476/World-shipping-crisis-threatens-German-dominance-as-Greeks-win-long-game.html (last used February 25,.2013)
http://prezi.com/your / (last used February, 26.2013)
http://de.wikipedia.org/wiki/Schiffsfonds (last used February, 26.2013)
http://www.heh-fonds.com/german-kg-markets/structure.html (last used February, 26.2013)
http://mikebrandlyauctioneer.files.wordpress.com/2010/06/price-tag.jpg (last used February, 26.2013)
http://en.wikipedia.org/wiki/Kommanditgesellschaft (last used February, 26.2013)
http://4.bp.blogspot.com/-t9rWhUdPIeE/T6cgXF8yWII/AAAAAAAABbg/015ctFEuDwU/s400/3968205-unhappy-businessman-suffering-from-world-financial-crisis-while-sitting-on-stairs.jpg
printed sources:
Llyods List, August 31, 2011, page 4
Llyods List, October 29, 2010, page 3
Llyods List Germany, November 2012, page 26
Hamburger Abendblatt January 22, 2013, page 24 Agenda The charter principle Ship financing by the KG-model The development of KG ship financing during the last decade The KG-model today Purchase of a ship Purposes: Make profit by hiring out
the ship to charterers Motives for investment Returns through the charter
income of the ship Risks of investment Bank Loans 60 % 40 % Ship owner/
Jack Sparrow MS Black Pearl MS Black Pearl GmbH & co. KG Charter rate 2003-2008 Steady economic growth High level of global trade High demand on tonnage High demand = High charter rates Charter rates = Returns for investors High demand on KG ship funds High equity contribution to
KG funds between 2003- 2008 Many ships were ordered Decrease of global trade volume Global recession Demand on tonnage decreased Rapid decrease of charter rates Delivery of new buildings
increased supply Partial owners of the company money conducts business by
hiring out ships The development of the KG ship financing
Full transcript