Shipping

Our practice is actively focused on serving the maritime sector. We advise the players of the maritime industry in all their capacities as shipowners, traditional lenders, private investors, operators, agents, and charterers (bareboat or time charters).

Our capabilities in the maritime sector span across a diverse range of areas of law. Our knowledge encompasses all aspects of maritime transactions including:

  • sale and purchase of vessels
  • structuring, documentation, and completion of vessel acquisition transactions.
  • the capital structure of joint ventures with institutional investors, including the formation of limited partnerships, Norwegian Kommandittselskap partnerships, bareboat charters, and operating lease.
  • structuring built-in security around shipbuilding and charter agreements, deposit accounts for vessel earnings and allocation of risks in demise charter and sale and leaseback transactions.
  • complex financing structures involving leveraged finance lease, finance leasing on encumbered vessels, sale, and leaseback.
  • advising new market entrants in protecting ownership interests of private equity investors, acquisition of encumbered vessel and debts, and structuring strategic joint ventures and alliances with owners and operators.
  • securing ownership interests through parallel registrations, managing wholly-owned SPV of shipping funds, securitization transactions through Maltese vehicles.

Private Equity

A lease arrangement is one means of financing the acquisition of a vessel. The financier can utilize a bareboat charter party as the vehicle for the loan repayment agreement. We are one of the very few firms that have structured leveraged finance lease which allows them to finance the acquisition partly by traditional bank loans, and the remaining sum through long-term finance lease initial deposit.

Bareboat Charters

Our client entered into a shipbuilding contract to cater to a secure charter party. In anticipation of delivery, we structured a bareboat charter arrangement with the private equity financier. Once delivered, the vessels immediately commence 7 years bareboat charter to the investor with purchase options during the charter period.

Fleet Management

The allocation of burden in contracts transferring operating and management duties must be scrutinized depending on the fleet in question, as that not only impacts the commercial viability of the transaction but also insurance feasibility. 

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