Ilayda 

ATAKAY

Ilayda obtained her LLB at Istanbul University, Turkey in 2016, where she participated in the Philip C Jessup International Law Moot Court Competition. During her undergraduate studies, Ilayda acted as a founding president of the Maritime Law Commission of International Law Students Association (ILSA)’s official Istanbul Club. Ilayda was called to the Istanbul Bar as an advocate in 2017 after completing a training contract with a local law firm that specialised in maritime, insurance, transportation, and ship/yacht/aircraft finance matters. Ilayda practiced with the same firm prior to starting an LLM (International Commercial and Maritime Law) at the Hillary Rodham Clinton School of Law, Swansea University. Her studies were fully funded by an EU Jean Monnet Program Award and she graduated with merit in 2019. Subsequently, Ilayda worked as a Visiting Foreign Associate at Campbell Johnston Clark (CJC) in London, and as a Visiting Foreign Associate at Montgomery McCracken Walker & Rhoads LLP in New York. Prior to joining the Centre for Maritime Law in April 2022, she worked at Kuehne + Nagel as a Regional Risk and Claims Manager (marine cargo and liability claims) for Middle East countries, Turkey and Egypt. Ilayda is a member of the Women’s International Shipping and Trading Association (WISTA) – Singapore Branch, and the International Bar Association (IBA)’s Maritime and Transport Law Committee and Asia-Pacific Regional Forum.

Presentations

• “Ship Leasing and Sale and Leaseback Transactions: Current International Trends and the BIMCO Shiplease”, CML Lunch Seminar, NUS Law, 26 October 2022
• “Selected principal legal issues in ship leasing transactions and recommendations for law reform”, CML Lunch Seminar, NUS Law, 3 March 2023

Publications

The Feasibility of the Current Multimodal Transport Regime and the European Union: Future European Multimodal Regime (Carriage of Goods by Sea, Air and Law) – EU Jean Monnet Scholarship Program – Library – Publications

Implementation of Cape-Town Convention and its Aircraft Protocol in Selected Jurisdictions; namely the U.K. and Turkey (Ship and Other Mobile Assets Law) – EU Jean Monnet Scholarship Program – Library – Publications

• Ship, Yacht, and Aircraft Finance and Leasing
• Marine Insurance Law
• Cargo and Liability Claims
• Carriage of Goods by Sea, Air and Land
• Charterparties

Research Project

Ship Leasing and Sale and Leaseback Transactions: Current International Trends and the BIMCO SHIPLEASE Form

Traditionally, the most common way of financing ships has been through debt and equity financing. However, over the past decade, ship leasing has become a very significant competitor and alternative for the provision of finance for acquisition of ships. Recent market studies expect the global ship lease market to grow at a significant pace over the next five years, even after accounting for the recent expansion of Chinese leasing companies into the market, as well as the potential impact of the Covid-19 pandemic.

In September 2020, the world’s largest international shipping association, BIMCO, recognised this growth and appetite for ship leasing transactions, releasing the SHIPLEASE standard form contract, an ‘industry first’ standard. This contract was developed for sale and leaseback transactions involving second-hand ships, but can readily be adapted for newbuilds.