CHINA Law and Practice Contributed by: John Wang, Xu Jun, Song Jia and Zhao Yuxuan, Wang Jing & Co
cate is lost or missing overseas, temporary registra - tion may also be granted. Dual nationality of a vessel is banned under PRC law. 1.6 Registration of Mortgages The mortgage of a ship may be registered in the MSA branch where the port of registry is located. The following documents are required for registering a mortgage: • an application for mortgage registration in writing, executed by both parties; • a ship mortgage contract and its master contract; • a registered certificate or ship-building contract; • where a ship is owned by joint owners, the docu - ments proving the agreement of the ship mortgage by all joint owners or joint owners holding more than two-thirds of the shares thereof; and • where a bareboat charter is registered, the docu - ments proving the charterer’s agreement of the mortgage. In registering the mortgage of a ship under construc - tion, except as provided for in the first four points above, an affidavit by the mortgagor shall be sub - mitted, warranting that the ship is not registered for mortgage in other ship registration authorities and that there is not any law or regulation that prohibits the ship from being mortgaged. 1.7 Ship Ownership and Mortgages Registry The ship ownership and mortgages’ registry in the PRC is available to interested parties. Apart from the owners, the following entities and per - sons may apply to the competent authority to view the ship registration file as interested parties. • The obligee of a ship and its successor, recipient and legatee and their agents may each apply to the competent authority to view the ship registration file in their own name. • The national department of administration and politics, the department of discipline inspection and supervision, the auditing department and the arbitration institution may apply to the competent
authority to view the ship registration file directly related to their work. • Law firms may apply to the competent authority to view the ship registration file in relation to the cases they are handling that have been formally accepted by the court. For the purpose of viewing the ship registration file, the following documents shall be submitted: • an application; • a certificate of identity or qualification of the ship obligee, and proof of the mortgage; • a certificate of identity or qualification of the suc - cessor, recipient or legatee, together with the materials proving the facts of the inheritance, gift - ing or legacy; • a power of attorney specifying the specific matters to be inquired about, and the identity certificate of the agent (for an agent inquiry); • a certificate issued by the national department of administration and politics, the discipline inspec - tion and supervision department, the auditing department and the arbitration institution together with the work certificate of the official responsible for the inquiry; and • a letter of introduction of the law firm, proof of case acceptance, and documents proving the inquiry is related to the cases they are handling, as well as the practising licence of the lawyer making the inquiry. From 9 September 2022, the mortgage information of Chinese registered vessels can be accessed publicly on the website of the Maritime Safety Administration. From 6 July 2024, the mortgage information of Chi - nese registered vessels can also be accessed publicly on the Registration and Inquiry System established by the Credit Reference Center of the People’s Bank of China.
2. Ship Finance and Leasing 2.1 Ship Loan Finance
In China, ship loan financing is commonly structured through traditional mortgage-backed lending provided
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