1.1 General view
I will present the legal issues in connection with finance and security when the ship is being built in Norway and the construction of the hull takes place in a Polish shipyard.It is not uncommon for the sections of the ships to be built in foreign yards, such as in Poland. The international character of the shipbuilding may cause many problems and complications. The shipbuilding rules are established separately by each nation. The result is that they differ from country to country. This situation creates many complications for lawyers and businessmen. There is a great need for uniform legal regulations of the financing and securing the shipbuilding. Shipbuilding plays a significant role in the economies of many nations. This industry involves millions of dollars and has a crucial role in international relations. The major shipbuilding countries are Japan, Korea, Taiwan, United Kingdom, Germany, Sweden, the Netherlands, the United States of America, France and Italy. Norway is one of the great maritime nations and has a leading position in the world in the shipbuilding.
1.2 Presentation of the issues I am dealing with in my thesis
Growing costs of the shipbuilding are the reason for the demand for high credits. There is large scale of international and domestic credit activity in the maritime business which is characterized by the economic fluctuation. When the hull is being built the substantial amount of money is at risk. The crucial issue for the parties of the hullbuilding contract is the possible security in the case when the hull is being built in Poland on the Norwegian’s yard account with the loan from the Norwegian bank. Each party has an interest to secure its rights. The parties are concerned to ensure that in the event of the other’s insolvency or non-performance, their loss will be kept to a minimum. In the legal systems where the ships are treated as regular chattels, it is difficult to secure the interests of the parties to the shipbuilding. I will present the qualification of the ship and the ship under construction in Polish law.