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26 Apr 2023

Stephenson Harwood (Singapore) Alliance advises Standard Chartered Bank and E.SUN Commercial Bank on JOLCOs

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Stephenson Harwood (Singapore) Alliance has advised Standard Chartered Bank (SCB) and E.SUN Commercial Bank Ltd (ESUN) on two separate Japanese Operating Lease with Call Option Financing Structures (JOLCOs).

The first matter relates to the financing of a 3,100 TEU container vessel, in which the firm acted for SCB on its first concluded JOLCO with a container shipping group. JP Lease Products & Services Co., Ltd. were involved as the equity arrangers. As part of the structure, the vessel will remain flagged under the Marshall Islands, and be bareboat charter registered under the Singapore flag.

The second matter relates to the financing of a 7,000 TEU container vessel, in which the firm acted for ESUN on its JOLCO with a container shipping group. The vessel is scheduled for delivery on or around October 2023. Financial Partners Group Co., Ltd were involved as the equity arrangers.

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

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KEY CONTACT

Pedram Norton

Pedram Norton
Partner

T:  +65 6622 9651 M:  Email Pedram | Vcard Office:  Singapore

Yin Ling Ng

Yin Ling Ng
Associate

T:  +65 6622 9644 M:  +65 8163 1252 Email Yin Ling | Vcard Office:  Singapore

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Rose Charteris

Senior communications & PR executive

T: +44 20 7809 2961 
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