The Baltic Academy’s online Ship Finance Executive programme kicks off on 9 Nov with a live webinar looking at traditional, alternative and sustainable sources of funds in shipping. 

Ship Finance Executive is a blended learning course from the Baltic Exchange with a mixture of pre-recorded videos and live webinar sessions. The course focuses on the benefits and risks of equity and debt finance. It is aimed at both shipping companies looking for capital and investors looking at shipping.

Click here for the course brochure and live webinar dates.

Price: £787 + VAT.
Further 30% discount for Baltic Exchange members.

Email: academy@balticexchange.com for further details.   

Course overview

Introduction to ship finance

  • Bank debt, bonds, public and private equity, leasing and mezzanine finance
  • Current trends and developments in ship finance


Equity public offerings

  • Reasons for going public; advantages and disadvantages for shipping companies
  • Company valuation techniques, underwriters and the IPO process. 
  • Institutional investors and shipping stocks


Pricing of shipping stocks

  • Underpricing; factors affecting first day trading returns of shipping stocks 
  • Estimation of probability of underpricing of shipping IPOs
  • Selection of IPOs for asset allocation and investment purposes
  • Financial strength and ranking of public shipping companies
  • Choice and estimation of financial metrics; Ranking process 
  • Ranking of shipping companies and financial strength index
  • Practical analysis of a shipping IPO prospectus focusing on: Deal structure; strengths and weaknesses; timing and pricing of the offering; financial strength of issuer relative to the industry average
  • IPO case study


High-Yield Bond issues

  • Advantages and disadvantages for shipping companies, and the issuance process
  • Role of credit rating agencies; process of assigning a credit rating
  • Defaults and restructuring options in shipping
  • Probability of default for shipping high yield bond issue


Bank credit

  • Types of Bank Credit Facilities
  • Preparing a Bank Proposal for a Shipping Term Loan

 
Portfolio management of shipping loans

  • Risk models and quantitative risk analysis of shipping loans
  • Cash flow analysis for shipping project

 

Shipping company valuation case study
 

Shipping sentiment, cycles and shipping assets investment

  • Quantifying shipping sentiment using market variables
  • Sentiment and shipping cycles
  • Shipping cycles prediction using shipping sentiment
  • Sentiment as an investment trading tool for the sale & purchase of second-hand vessels

 

Shipping stocks investment

  • Passive vs active portfolio management
  • Index tracking and shipping stocks portfolio construction 
  • Shipping investor sentiment and stocks investment


Trading strategies based on index tracking

  • Sentiment based trading strategies for shipping stocks and stock market indices