This book arose from my doctoral thesis written during my time as a scholar of the International Max Planck School for Maritime Affairs in Hamburg. Upon its publication, I am in particular indebted to the International Max Planck Research School for Maritime Affairs. The time as a scholar of the Research School broadened my field of knowledge in maritime law much beyond the topic of my own subject of research and granted valuable insights into the shipping reality. I am grateful to my supervisor Prof. Dr. Ulrich Magnus for his continuous support and sound advice. I am grateful also to the Max Planck Institute for Comparative and International Private Law in Hamburg for putting its facilities and administrative support at the disposal of me and the other scholars of the Research School. In particular, I would like to thank Michael Friedman at the Institute for proof-reading. I would like also to use this opportunity to express my appreciation for having been given the chance to spend the last years in the good company of and with support of my fellow scholars and associates of the Research School. Without you, many days spent at the Institute would not have passed by as fast and many evenings time spent outside of the Institute been much less enjoyable. Last but not least, thank you Adrian for always being there.