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03-11-2020 (Live Online)

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Live Online: Shipping Finance, Valuation & Consolidation

3 – 6 November 2020 | 1:30pm-5:30pm (SGT) | Live Online

Book Now Register Your Interest Download Brochure

Early Bird Rate: Register & Pay by 11 September 2020
Register 2 Delegates & the 3rd Comes free!

overview

About The Course

Taking into account latest developments in shipping industry, this masterclass offers practical guidelines and actionable insights into M&A due diligence practices, asset valuation and negotiation strategies. Applicable to all sectors of shipping, attendees will examine numerous real-world case studies, pitfalls and considerations to help you mitigate legal & financial exposure.

Throughout 4 modules, you will gain latest updates on consolidation trends, the global shipping & ship financing market, M&A and vessel transaction activities across sectors; key legal, operational & financial due diligence best practices and the S&P process & formation of contracts.

 

Key Learning Outcomes & Case Studies Include

  • The global shipping market in 2020: Key updates on consolidation and M&A activities
  • Key insights on company valuations M&A Due diligence – Legal, Accounting & Financial breakouts
  • Risk assessment & mitigation in shipping M&A Transactions
  • The S&P transaction process of second-hand and newbuilding vessels
  • Financing for shipping projects – the loans, alternative sources of finance and negotiation
  • Formation of contracts in M&A and ship funding projects
  • Potential contentious aspects in M&As and vessel sale & purchase
  • Updates on ship funding market, sale & purchase and vessel building across sectors

pricing

Packages Price
Live Online LearningSGD $2876

Early Bird Rate: Register & Pay by 11 September 2020

Register Group of 10 for SGD $12,950

Register 2 Delegates & the 3rd attends FREE!
Group rate is based on normal rate only.
For Group Registrations, email register@informa.com or call +65 6508 2401

  • Special Group Discount pricing is applicable to groups of 2 or more delegates from the same organization registering for the same event, at the same time.
  • Fee stated is the discounted price PER DELEGATE. Only one discount applies – either the early bird rate OR the Special Group Discount.
  • A 7% Goods & Services Tax (GST) is applicable to all Singapore based companies for Singapore venue.
  • View payment terms and bank transfer details, click here »

Course Director

Dr. Stavros Tsolakis
Vice President – DST Shipping Group

View profile »

Live Online Learning

Stay Home. Skill Up!

The current Covid-19 pandemic has put strains on various areas of business, especially when it comes to deriving commercial value from new initiatives. During this phase of self-isolation and working from home, we can help you meet your professional development needs and you can still take your professional development plans to the next level.

To support your learning goals we have converted our face-to-face trainings to LIVE Online Sessions. This way you can continue to attend live and interactive training sessions within the virtual classroom space where you can see and speak, with your Subject Matter Expert and other participants.

Benefits of Live Online Learning

Aimed at offering you immediate, high-quality practical information whilst minimising time and expenditure associated with travelling, our digital training platform enables you to interact in real time with course directors and remotely network with your fellow participants.

  • Classroom Experience: Progress with fellow participants as you would in an on-site class
  • Guaranteed cost-effectiveness: Travel budget saving, plus 20% price advantage for online participation
  • Controlled environment with speakers managing the Q&A and discussions and tools for enhanced interactions
  • Module-based approach to effectively manage your time and revisions
  • Earn your Digital Certification and broadcast your achievements to your peers
  • Onboarding: Available for all attendees
  • Proven and secure training platform

 

Click here to know more >

Digital Badge

Upon completion of this training course, participants will earn a digital badge.

Eligibility:
Attend and participate in the full training course duration, led by the designated training expert

Available to:
Seminar attendees

Digital Badge FAQ >

Agenda

MODULE 1

SHIPPING CONSOLIDATION OVERVIEW

  • Global shipping market 2020 updates
    • Economic activity, world trade & seaborne demand post Covid-19
  • M&A trends – Sectoral analyses
    • Container, dry bulk, tankers, chemical carriers, ro-ro
    • New entrants and consolidations
  • Demand factors, future opportunities and financing implications
  • Sources of financing
  • Characteristics of the various institutions providing or arranging finance

 

M&A – DUE DILIGENCE REVIEW

  • Legal due diligence practices
  • Accounting & financial
  • Commercial & operational
  • Environmental compliance
  • Technology and intellectual properties

 

M&A ACCOUNTING/FINANCIAL DUE DILIGENCE

  • Quality of earnings consolidations, EBITDA normalisation
  • Working capital targets and cashflow consolidations
  • Tax due diligence, structuring, and planning
  • Cashflow impacts of tax issues
  • Operating expenses and financial trends
  • Working capital and other purchase price adjustment mechanisms
  • Treatment of debt and other liabilities
  • Guaranties, loans, and credit agreements
  • Deal structure, valuation & integration

 

MODULE 2

CONSOLIDATION AND M&A LEGAL DUE DILIGENCE

  • Litigation claims
  • Non-competition
  • Antitrust diligence
  • Definitive agreements
  • Regulatory issues: exposures and compliance
  • Insurance

 

ASSET VALUATIONS

  • Asset-based valuation
  • Capitalisation of earnings
  • Discounted cash flow
  • Market approach to value
  • Benchmark statistics
  • Case Studies:
  • Ship owners & ship operators
  • Terminal operators
  • Agencies and tag/barge owners, operators

 

M&A RISK ASSESSMENT AND MITIGATION

  • Target decision criteria
  • Deal evaluation related risks
  • Cross-border M&A risks
  • International & national laws
  • Reliability of the target’s financial information
  • Potential contentious aspects on due diligence and consolidation

 

MODULE 3

VESSEL SALE & PURCHASE 2020 AND SHIP FUNDING MARKET

  • The sale and purchase market post-2020
  • Demand factors, future opportunities and financing implications
  • Fleet supply vs demand outlooks
  • Vessel valuations
  • Outlook for new building projects
  • Options for funding merchant ships
  • Second-hand vs newbuilding in ship finance
  • Changing requirements of lenders and availability of finance in the current market

 

THE S&P TRANSACTION PROCESS OF SECOND-HAND AND NEWBUILDING VESSELS

  • Factors affecting newbuilding vs secondhand vessels’ prices
  • Requirements, negotiations, delivery & inspection
    • Vessel circulars, sellers’ ideas, buyers’ ideas and requirements
    • The role of the S&P broker
    • Offer, counter-offer and negotiations
    • Confidentiality issue
    • Time limit of offer, price, subjects, delivery and other conditions
    • Memorandum of agreement deposit
    • Drydocking and inspection
    • Delivery and transfer of asset
  • The payment in tranches method
  • The role of the refund guarantee
  • The role of Export/import banks

 

FINANCING A SHIPPING PROJECT

  • Commercial loan finance
    • The portfolios of the largest banks in shipping finance today – future of Asian banks
    • Common requirements: Shipowners vs Banks
    • Financial proposal assessment
  • Financiers’ limitations on the provision of finance
  • Risks and rewards for banks involved in ship finance
  • Ship covenants
    • The importance of documentation, covenants and security in ship finance
    • Ways for a shipping finance bank to secure itself during the period of a loan

 

MODULE 4

ALTERNATIVE SOURCES OF FINANCE FOR SHIP PURCHASE

  • Mezzanine finance or leasing structures as alternative sources of finance and why?
  • Public listing or bond offer
  • Investors’ perception of shipping bond and stock offerings
  • Advantages and disadvantages of each type of finance as well as
  • Future potential

 

FINANCIAL RISK MANAGEMENT IN SHIPPING

  • Portfolio risk management
    • Measuring risk & portfolio risk
    • Beta and unique risk
    • Diversification and Markowitz
    • Portfolio theory
    • Risk and return relationship
    • Traditional diversification strategies shortcomings – cointegration
    • Shipping application
  • Financial Risk Management – Value at risk and applications to shipping
    • Financial futures and options
    • Options shipowners and charterers have to hedge their positions
    • Different futures and forward
    • contracts in shipping
    • Ways and methods to price a financial option
    • Shortcomings of traditional discounted cash flow (DCF) models
    • Theory and the reasons behind Real
    • Option Theory development
    • Applying Real Option Theory and
    • Value At Risk Theory to financial decision making in shipping

 

POTENTIAL CONTENTIOUS ASPECTS ON SHIP SALE & PURCHASE

Analysis and discussion of the various legal aspects and cases in shipping assets’ M&A; ship sale and purchase for new, secondhand vessels and vessels under construction

  • Arbitration provisions of sale contracts, tribunal appointment
  • Types of disputes in arbitration
  • Mediation to disputes
  • Case law updates

when & where

03 - 06 Nov 2020

1:30pm-5:30pm (SGT)
Live Online

On-site & in-house training

Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?

Talk to us about an on-site/in-house & customised solution.

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