Law firm Stephenson Harwood LLP has advised HSBC on its first shipping sustainability and transition-linked financing (TLF) for Stem Shipping Co S.A in respect of a five year US$13.6 million facility.

HSBC was the sustainability lender in the transaction, and supported a ship owning company, which is managed by Stem Shipping - a global provider of maritime transportation services. The deal will enable the company to progress its ESG goals by establishing a key performance indicator that aligns with the sector's wider sustainability and regulatory targets in relation to the reduction of CO2 emissions. 

"This was an interesting transaction on which to advise, and it further demonstrates HSBC's continued strategic commitment supporting its shipping clients in their journey to net-zero emissions," said Chris Vartzis, partner, Stephenson Harwood.

The Stephenson Harwood team was led by partner Chris Vartzis, who was supported by associates Angelos Michas and Filimon Kalogeras.