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Clifford Chance

Clifford Chance
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Shipping<br />

Shipping

Global Shipping

The shipping industry is in the process of transformation.

The shipping industry is interlinked with the state of the global economy which, in recent years, has had a major impact on the sector. Increasing operating costs and declining profits resulted in the shipping industry refining its processes.

Although the fundamental outlook for the global shipping industry is stable, liquidity remains a discriminating factor. Clifford Chance's dedicated Shipping Group works with ship owners and finance parties to support their activities and meet the challenges they face in today's market.

How can we help you?

A long-established shipping group

Clifford Chance's long-established Shipping Group – part of our global Transport & Logistics Group – advises shipping companies and financial institutions across the full spectrum of shipping markets. The dedicated practice, which handles corporate and commercial shipping matters and ship finance work, commodities and international trade work, focuses on offshore oil and gas matters and the more complex structured financings.

Clifford Chance regularly documents transactions in all current major equipment financing markets and we have extensive experience dealing with many of the major export credit agencies in respect of a wide range of shipping assets.

A world-class Offshore and Maritime team

Our Clifford Chance maritime team has worked on a number of “firsts” in the shipping industry.

We have maritime professionals across a broad range of products and practice areas advising on the most complex and innovative financing structures, including sale and leaseback, loan to bond, ECA financing, JOLCOs, project financing, asset financing, equity investments, preference shares, project bonds and other structured financing which has replaced the traditional “ship financing” across the sector.

Understanding of how you like to work and your key business drivers

We understand issues of critical importance to your business. By appointing Clifford Chance, you will be working with a firm who is already familiar with your legal and business teams, culture, style of working and requirements.

Recent client highlights

  • Advising A.P. Møller-Mærsk A/S on the green loan and sustainability-linked financing by KEXIM of 10 16,200 TEU methanol dual fuel container vessels.
  • Advising The National Shipping Company of Saudi Arabia (Bahri) on the Sharia-compliant financing by SAMBA of 10 55,000 DWT chemical tankers.
  • Advising Standard Chartered Bank and ING Bank N.V.,  Singapore branch (together with the respective mandated lead arrangers) on the c.USD1.2bn ECA- project financing of 5 pipe-laying support vessels chartered to Petrobras, supported by Atradius Dutch  State Business and UK Export Finance, sponsored by Seadrill Limited and Sapura  Energy Berhad.

 

  • Advising BNP Paribas and CACIB on the financing of 4 chemical tankers for Navig8, and the subsequent restructuring in connection with the merger of Navig8 Product Tankers Inc. and Scorpio Tankers Inc.
  • Advising BNP Paribas as arranger and underwriter of a K-sure supported loan-to-bond transaction for the financing of 3 container vessels for CMA CGM, the first transaction of  its kind.
  • Advising SACE, SIMEST, Citi, HSBC, CdP and BBVA on the export financing for the lengthening, re-engining and modification of 3 Fincantieri cruise vessels for Windstar Cruises.

 

  • Advising GasLog Ltd. on its financing arrangements in connection with the IPO of GasLog Partners LP, a US Master Lease Partnership and the initial transfer of LNG vessels into the MLP.
  • Advising the shipowner on the EUR 346 million pre-delivery financing and sale and leaseback of 4 LNG and battery hybrid propulsion coastal passenger vessels.

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