(b) On the basis of off-balance-sheet financing and cash-in, choose two most relevant and appropriate sources of shipping finance of special purpose vehicle relating to off-balance-sheet financing and cash-in that we have discussed in classes.

(b)(i) In your words and understanding, elaborate and explain in details with your own clear and specific diagrams to demonstrate how your two chosen sources of shipping finance of special purpose vehicle that adopt the separation of their two roles of owner/investor and operator in order to formulate and deploy off-balance-sheet financing and cash-in owned ships while maintaining operational control of the ships.

(b)(ii) In your own words and understanding, discuss and explain in details the most critical pre-requisites to ensure the successful implementation of your two chosen most relevant and appropriate sources of shipping finance of special purpose vehicle relating to off-balance-sheet financing and cash-in.