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09 Oct 2023

Stephenson Harwood (Singapore) Alliance advises BNP Paribas on four JOLCOs


Stephenson Harwood (Singapore) Alliance has advised BNP Paribas (BNPP) on four Japanese Operating Lease with Call Option (JOLCO) financing structures.

The matter relates to the financing of four Handysize bulk carriers, in which the firm acted for BNPP's Japanese and Hong Kong offices on their first concluded JOLCO with the Cetus Maritime group. The four vessels were refinanced from a term loan facility into the JOLCOs. SBI Leasing Services Co., Ltd. was involved as the equity arranger. This follows the firm's involvement in Cetus Maritime's financing of two bulk carriers by a regional bank based in Japan earlier this year.

The Stephenson Harwood (Singapore) Alliance team was led by Singapore-based partner Pedram Norton, who was supported by associates Yin Ling Ng and Annabel James. Further advice was provided by Virtus Law partner Colin Jarraw, who was supported by associate Jamie Loh and paralegal Sylvia Lisa.



Colin Jarraw

Colin Jarraw
Partner at Virtus Law

T:  +65 6661 6852 M:  +65 9795 0025 Email Colin | Vcard Office:  Singapore


Rose Charteris

Senior communications & PR executive

T: +44 20 7809 2961 
Email Rose