Law firm Stephenson Harwood LLP has advised on four deals which have been recognised at the Marine Money Deal of the Year Awards 2025.
“Winning four Marine Money awards is a testament to the calibre of our team and the trust our clients place in us,” said Ian Mace, Global Head of Maritime Trade and Offshore Finance. “The deals recognised span a range of jurisdictions and include significant decarbonisation and energy transition elements. Our expertise in this area is an essential part of our offering, underscoring our ability to deliver innovative, sustainable solutions that help our clients succeed in a rapidly changing maritime landscape.”
Green Deal of the Year – Union Maritime builds new vessels with WindWings
The firm advised Société Générale on the financing of two newbuild LR2 vessels for Union Maritime Limited (UML), a leading provider of smart shipping solutions. This Sinosure-backed transaction includes financing the acquisition and installation of WindWings technology - a rigid sail technology that uses wind propulsion, to reduce fuel consumption and lower CO2 emissions. The team was led by Partner Ian Mace.
Bank Debt Deals of the Year – Hafnia’s $715 million senior secured revolver and $417 million accordion financing
The firm advised Hafnia Limited, as corporate guarantor, and Hafnia SG Pte. Ltd., as borrower, in relation to revolving credit facilities of up to US$1.13 billion. The facilities were initially used to refinance 32 tankers including Handy, LR1, LR2 and MR tankers. An additional accordion facility, if established, will provide refinancing for a further 19 tankers. The financing involved 11 banks with ING Bank, OCBC and Standard Chartered Bank as mandated lead arrangers, BNP Paribas, DBS, Iyo Bank, Societe Generale and UOB as lead arrangers and E.Sun, Skandinaviska Enskilda Banken, Taishin International as co-arrangers. The team was led by Partner Gregg Johnston.
Bank Debt East Deal of the Year - BW LPG financing for 6 Mid-Life VLGCs
The firm advised BW Global United LPG India Private Limited (BW LPG) on the US$215 million financing for six Very Large Gas Carriers (VLGCs). The financing was provided by a consortium of five banks, led by Standard Chartered. This is BW LPG’s first financing out of India’s GIFT City. BW LPG India owns and operates India’s largest fleet of LPG Very Large Gas Carriers (VLGCs). The company is a subsidiary of BW LPG, the world’s leading owner and operator of LPG VLGCs. The team was led by Partner Gregg Johnston.
Wild Card East Deal of the Year – Fund for Energy Efficient Technologies
The firm advised Global Centre for Maritime Decarbonisation (GCMD) on the world’s first “pay-as-you-save” vessel retrofit fund, a pioneering initiative designed to accelerate maritime decarbonisation. The Fund for Energy Efficiency Technologies (FEET), aims to remove financial barriers to retrofitting vessels with energy-saving technologies, enabling shipowners to upgrade their fleets and reduce emissions without heavy capital expenditure upfront. The team was led by Senior Consultant Haris Zografakis and Of Counsel Rachel Hoyland, with specialist expertise drawn from across Stephenson Harwood’s global network. A separate team from Stephenson Harwood’s Singapore office led by Pedram Norton is providing ongoing advice to ING Bank N.V., Singapore Branch as the coordinating bank for the senior lenders.
