Maritime & Offshore Finance

Some of our most relevant experiences supporting clients with maritime & offshore finance.

• Advised Oversea-Chinese Banking Corporation Limited on a Japanese Operating Lease with Call Option Financing Structure in relation to the sale and leaseback with financing of a 9,000 TEU container vessel.
• Advised the New York office of ING on a US$71.9 million ECA backed loan facility for subsidiaries of Algoma Central Corporation, one of Canada's largest marine shipping companies, listed on the Toronto Stock Exchange.
• Advised Bank of Communications Financial Leasing, ICBC Financial Leasing and CMB Financial Leasing, on three separate sale and leaseback financings for Hapag-Lloyd, amounting to a total of US$1.8 billion.
• Advised Ardmore Shipping Corporation ('Ardmore') on a US$350 million secured revolving credit facility refinancing.
• Acted as lead counsel to Bank of America, The Korea Development Bank, The Export-Import Bank of Korea and BNP Paribas as mandated lead arrangers and DNB Bank and Sumitomo Mitsui Trust Bank in respect to two sustainability linked loan facilities. The deal provides facilities of up to US$450 million to subsidiaries of EUKOR Car Carriers, the largest specialised car carrier company in Korea. Marine Money Structured Finance Deal of the Year 2024.

Some of our most relevant experiences supporting clients with offshore finance, including LNG and FPSOs.

• Advised a syndicate of 13 international lenders on a US$1.1 billion multicurrency revolving credit facility for SBM Offshore N.V., a global leader in floating production storage and offloading systems. This includes an uncommitted option to increase the facility by an additional US$500 million.
• Advised the National Bank of Fujairah PJSC and The Arab Energy Fund on a US$300 million financing facility provided to Stanford Marine and Allianz Middle East Ship Management.
• Advised Standard Chartered Bank on a unique US$1.3 billion project finance structure, relating to the pre- and post-delivery financing of Yinson Production's floating production, storage and offloading unit 'Agogo FPSO'.
• Advised Knutsen Group's US$970 million financing of six liquified natural gas carriers. The deal incorporated a combination of a French lease, ECA-backed loans and the issuance of private placement bonds.
• Advised Crédit Agricole Corporate and Investment Bank (CACIB) on the Singapore law aspects of a US$685 million syndicated loan provided to Höegh LNG for the refinancing of two floating storage and regasification units (FSRUs): Höegh Esperanza and Höegh Gannet.

Some of our most relevant experiences supporting clients with private equity.

• Advised on a joint venture agreement between a well-known Singapore based ship owner and a Hong Kong based private equity group including their commercial bank and ECA financing facilities of up to US$1 billion used to finance or refinance 30 tankers.
• Advised Yangzijiang Financial on its maritime fund’s joint venture with Singapore-based equity investment vehicle Alpha Omega Marine and the acquisition of two vessels.
• We advised SMT Shipping on the sale of 50% of Eureka Shipping, a pneumatic cement vessel business, to CSL Group to create a joint venture designed to combine their respective expertise, resources and technologies to expand services to customers in the global seaborne cement powder and fly ash transportation markets.
• Advised Euronav NV in relation to its acquisition of two Suezmax tankers through joint ventures with Ridgebury Tankers and Tufton Oceanic for a combined consideration of US$40.6 million.
• Advised on the management arrangements for a joint venture, established by an US East Coast based private equity firm and a European ship owner and operator, and the acquisition of a distressed shipping company by the joint venture.

• Some of our most relevant experiences supporting clients with restructurings.
• Advised a syndicate comprising three banks on a restructuring, and eventual full prepayment, of a loan facility involving four Sinosure-backed bareboat charters with Pacific International Lines.
• Advised The Export-Import Bank of China in relation to a court sanctioned recovery plan and conciliation protocol. The deal involved the restructuring of a loan in default to a convertible bond and equity issued by a company, formed by the lenders, to buy 100% of Bourbon Maritime.
• Advised senior facility creditors on the English law aspects relating to the bankruptcy process of Altera Infrastructure, which was formerly part of the Teekay Group.
• Advising a syndicate of lenders on managing the fallout of Hanjin Shipping on behalf of more than 20 international and Korean banks across five separate syndicated / club loan agreements and a number of club / bilateral transactions involving 31 vessels and a variety of jurisdictions.
• Advised Nordea Bank Finland Plc, Singapore Branch, in connection with Solstad Offshore's US$1.5 billion multi-facility global fleet refinancing.