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12 Apr 2021

Stephenson Harwood advises Crédit Agricole Corporate and Investment Bank on financing of five VLOCs

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Law firm Stephenson Harwood (Singapore) Alliance has advised long-standing client, Crédit Agricole Corporate and Investment Bank, in relation to a significant senior secured financing of five very large ore carriers for Polaris Shipping Co., Ltd.

The vessels – which were built, or will be built, by Hyundai Samho Heavy Industries Co., Ltd. – will serve long term employment contracts with Vale, the Brazilian mining entity. The loan facility is provided by a syndicate of four lenders comprising both international and Korean financial institutions.  

Korean-based Polaris Shipping is a global dry bulk and energy transportation owner and operator, and controls a fleet of approximately 37 vessels.

The Stephenson Harwood team comprised Singapore partner Gregg Johnston, senior associate Matthew Seah and associate Thomas Böhringer. Hong Kong law support was provided from Hong Kong partner Elton Chan and associate Tinnie Chan.

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KEY CONTACT

Gregg Johnston

Gregg Johnston
Partner

T:  +65 6226 1600 M:  Email Gregg | Vcard Office:  Singapore

Matthew Seah

Matthew Seah
Senior associate

T:  +65 6622 9632 M:  Email Matthew | Vcard Office:  Singapore

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Rose Russell
Communications and PR executive

T: +44 20 7809 2961 
Email Rose

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