Areas of Practice

Ships Mortgage And Finance

First Marine mortgage loans can be made available to suitable borrowers against the security of acceptable vessels and Time Charter Contracts. The period of these mortgages vary with the age of the vessels and unexpired term of the charter. Loans generally range up to eighty percent of the purchase price or valuation of the vessels, this however on certain transactions can be increased by the provision of acceptable guarantees, or alternatively, on the basis of an equity participation of the investment involved, with rates of interest being calculated and charged accordingly with the evaluation of the security and the general monetary market conditions.