Chapter II：The Ship
Section II: Maritime Liens
Section III: Ship Mortgages
The creation of a mortgage upon a ship shall be made in writing.
A ship mortgage may be created upon a ship under construction.
Unless otherwise provided by law, a ship mortgage may be created only by the shipowner or by any other person specially authorized to do so by the shipowner.
No creation of ship mortgage can be set up against a third person unless registered.
When one or more co-owner(s) create(s) a ship mortgage by encumbering his (their) share(s) such a mortgage shall not be affected by a sale of the ship or a partition of the shares in the ownership of the ship.