By Jim Davis CBE K（DK） International Maritime Industries Forum 1
Towards a European maritime transport space without barriers European Commission 3
Back to basics - as offshore financing enters deeper waters Societe Generale 7
The global downturn - a maritime perspective Aon BankAssure 12
What DVB Shipping Asset Management has to ofer shipping financiers and financial owners DVB Bank SE 15
The Forward Freight Agreement boom/bust - a cautionary tale Berwin Leighton Paisner LLP 18
Islamic finance: Past or future? Fichte ＆ Co Legal Consultancy 22
Is competition law facing a crisis of its own? Holman FenwickWillan 25
How safe is an ‘Un-SAFE' Guarantee Ince ＆ Co 28
Distress test - Dutch auctions Loyens ＆ Loeff N.V. 31
Lean times and insolvency Uria Menendez 33
Cancellation of loan agreements Kyllingstad Kleveland Advokatfirma DA 36
Tackling the scourge of piracy International Chamber of Shipping and International Shipping Federation 39
Refund guarantees - effective and reliable security in ship financing? Dr.Schackow ＆ Partner Rechtsanwalte 41
Ship financing - securitisation possibilities under Maltese Law Mamo TCV Advocates 45
Appendix 49
Ship loan league tables for 2008 Dealogic 49
Directory 55
Co-publishers 127
Advertisers' index 128