Statement of Purpose

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Shipping plays a vital role in international commerce and is the backbone of world economy. Approximately 90 per cent of global trade is carried by sea. The United Nations Conference on Trade and Development (UNCTAD) estimates that the operation of merchant ships contributes about US $ 380 billion in freight rates alone to the global economy; equivalent to about 5 % of total world trade. The shipping industry, with its 30,000 companies world-wide, is one of the most finance-intensive industries in the world. Shipping finance sector provides the capital for the maritime industry to expand and meet the ever-increasing demands of world trade and is required for purchase of ships for fleet expansion or renewal, refinancing of existing assets, repair and upgrading of vessels and port development. Analysts have reported the global shipping finance market to be worth about US$335 billion annually. Increasing industrialization and the liberalization of national economies have fuelled free trade and have brought about tremendous opportunities to develop newer tools and methodologies in the field of shipping finance. It is to this challenging environment that I intend to contribute by evolving meaningful and optimal solutions to various problems in the shipping finance sector. Thus my immediate goal is a career in shipping finance, which will equip me with the practical knowledge of global shipping finance industry. This knowledge combined with my experience in commercial ship operations and understanding of maritime sector will help me to achieve my long term goal of becoming an investment consultant in shipping industry. To achieve my goals, I need to learn much more about current developments and techniques in finance, shipping finance markets and financial applications and acquire hands-on experience of financial analysis. A Master's Degree will provide me with theoretical understanding, an in depth idea of practical approaches in aiding managerial decision-making...
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