Abstract:
After a brief introduction, the first chapter of the Master Thesis is
dedicated to the description of the shipbuilding industry. More
precisely it includes an overview of the products and the
characteristics of the industry, an analysis of the key variables
which influence the demand and the supply of the market and the most
significant market trends. In particular, the European situation is
minutely examined throughout a SWOT analysis. In the final part of the
chapter is introduced the European shipbuilding leader Fincantieri,
its activities and its main competitors. In the second chapter, the
first part is dedicated to the explanation of origin of the
shipbuilding companies’ credit issue and the rule of the financial
planner in the determination of the financial needs. Afterwards are
discussed and analyzed the principal short term credit facilities used
by a shipbuilding company to fund its relevant working capital. In
particular, for each product, after an introducing description, the
Thesis includes information about the contract and the issuing process
and some data about the market evolution. The credit instruments
analysis continues in the third chapter, in which are discussed the
common medium and long term credit facilities, such as the revolving
credit facilities and the term loans, but also other innovative
products, such as Schuldschein. Finally, the conclusion of the Master
Thesis highlights the key market trends arising from the previous
chapters.
