Ship and offshore finance

Regarded as one of the leading ship finance firms in Europe, the Middle East and Asia. Our award-winning ship finance team is recognised for its commerciality and its ability to solve problems using innovative financing structures.
  • Profile
  • Experience
  • Key contacts

Our reputation is based on a strong track record of transactions for clients, who include nearly all the major international banks which are active in the shipping market. Our lawyers have experience of acting for arrangers, lenders, ship owners and offshore service providers – which means that they are familiar with issues on all sides of the table. The team also acts in the private equity space.

Being specialists in the shipping sector means that we are also regularly advising our clients on refinancings and restructurings. Our role ranges from providing strategic advice on handling problem loans from the time issues first emerge, through to workouts and enforcements.

With some 100 specialist lawyers spread across all our offices, we have one of the world's leading shipping and offshore finance practices.

We can help you with:

  • ship finance - including ship sale and purchase, shipbuilding contracts, ship registration, construction and operation
  • restructuring / workouts
  • UK and European tax leasing
  • construction and financing of private yachts
  • Islamic finance
  • international trade
  • offshore and energy
  • UK tonnage tax
  • tax structuring and tax investigations.

"They are commercial, hard-working, very skilled and knowledgeable."

Chambers UK 2022

Deutsche Bank AG, $1.2 billion loan for 12 container ships

Advised on a multi-tranche syndicated K-sure backed loan facility for the partial financing of seven 14,500 and five 18,800 TEU container ships for wholly-owned subsidiaries of United Arab Shipping Company.

Deutsche Bank AG lenders in a US Chapter 11 restructuring case

We advised the lenders of a US$253 million syndicated facility for Genco Shipping & Trading Limited who filed for a US Chapter 11 Plan of Reorganization. Our team led the successful Chapter 11 exit without any loss of capital for the client.

Tax project transfer of 250 secured loan facilities

We advised on the transfer of 250 secured loan facilities secured against shipping, offshore and energy related assets with combined total commitments of US$16 billion.

DVB Bank America N.V. senior multi-tranche facility

We advised the bank on a US$1.32 billion senior multi-tranche facility made available to a Norwegian drilling company with ECA support to finance the construction of two semi-submersible rigs.

DNB Bank ASA revolving credit facility for a special investment vehicle

We acted for the agent of a syndicate of banks for a US$300 million revolving credit facility to a newly incorporated special investment vehicle created to capitalise on the tanker market surge by acquiring and operating tanker vessels.

Export credit agency backed tranches and commercial bank tranche with pooled security

We represented lenders of three facilities financing the Bonny Gas Transport purchase of six liquefied natural gas vessels. The complex financing arrangements involved two separate export credit agency backed tranches and a commercial bank tranche with pooled security.

DNB Bank ASA and Mizuho Corporate Bank

We acted for both banks for the US$608 million restructuring of the 2011 joint venture vehicle established by Teekay Corporation and Marubeni Corporation for the acquisition of AP Moeller-Maersk's LNG shipping business.

HSH Nordbank leading shipping Chapter 11 restructuring case

We acted for HSH Nordbank and syndicate lenders on this leading Chapter 11 shipping case concerning claims against Omega Navigation Enterprises for their default under a syndicated loan facility secured against eight product tanker vessels owned by Omega subsidiaries.

Export-import Asian bank sale and leaseback deal

We acted on a $1 billion post-delivery loan to a subsidiary of a financial leasing company for the acquisition of 51 vessels to be bareboat chartered to the Bourbon Offshore Group of France.

Joint venture international private equity planning

We advised a tax-efficient joint venture between a ship owner and operator and a leading global investment firm, formed to invest in the shipping sector through the acquisition of vessels that are the subject of distressed loan facilities.

Lawyer

Nigel Bowen-Morris Piraeus office managing partner

T:  +30 210 429 5160
M:  +30 695 7505 481 Email Nigel | Vcard Office:  Piraeus

Lawyer

Ian Mace Partner and global head of maritime trade and offshore finance

T:  +44 20 7809 2653
M:  +44 7827 353 109 Email Ian | Vcard Office:  London

Lawyer

Rania Tadros Office managing partner and global head of maritime and offshore

T:  +971 4 407 3901
M:  +971 50 347 9508 Email Rania | Vcard Office:  Dubai

Latest news & insights

14 Jun 2024

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03 Jun 2024

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Peter Theochari joins Stephenson Harwood as partner

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15 Apr 2024

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Law firm Stephenson Harwood LLP has advised on eight separate deals which have been recognised at the Marine Money Deal of the Year Awards 2023.

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04 Mar 2024

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18 Oct 2023

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Stephenson Harwood advises Fleetscape on $92 million sale and leaseback of six supply vessels

Law firm Stephenson Harwood LLP has advised Fleetscape Capital Limited on the sale and leaseback of six platform supply vessels (PSVs) to Golden Energy Offshore Servic..

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09 Oct 2023

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The Japanese Operating Lease with Call Option or JOLCO has become an increasingly popular source of financing in shipping over recent years.

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09 Oct 2023

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03 Oct 2023

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Law firm Stephenson Harwood LLP has advised long-standing client KfW IPEX-Bank GmbH on the ECA-backed financing of a newly built luxury passenger cruise vessel that wa..

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02 Oct 2023

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Stuart McAlpine joins Stephenson Harwood as partner

Law firm Stephenson Harwood LLP has strengthened its ship and offshore finance practice with the arrival of partner Stuart McAlpine, who joins the firm in London.

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22 Aug 2023

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The United Nations Convention on the International Effects of the Judicial Sale of Ships

The shipping industry has for years encountered issues with the recognition of the judicial sale of ships by a foreign court.

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01 Jun 2023

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Stephenson Harwood advises Nordea Bank on US$350 million credit facility

Law firm Stephenson Harwood LLP has advised Nordea Bank Abp, New York Branch, on a US$350 million secured revolving credit facility provided to Teekay Tankers Ltd.

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30 May 2023

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Stephenson Harwood advises on US$117 million loan facility to Scorpio Tankers Inc.

Law firm Stephenson Harwood LLP has advised a leading global bank on a US$117 million loan facility. The facility is in relation to the financing of seven tanker vesse..

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25 May 2023

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Four lawyers featured in Spear's Magazine's 2023 rankings

Stephenson Harwood senior partner Roland Foord, partners Kiersten Lucas and Ezio Dal Maso, and consultant Neil Noble have been included in Spear's Magazine's 2023 'Emp..

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18 May 2023

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Stephenson Harwood advises on award-winning deal

Law firm Stephenson Harwood LLP recently advised on SHUAA Capital's acquisition of Allianz Middle East Ship Management, which won 'Offshore Deal of the Year – East' at..

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16 May 2023

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Stephenson Harwood wins shipping and transport law firm of the year award

Law firm Stephenson Harwood LLP has won the 'Shipping and Transport – Law firm of the year' award at The Legal 500 Southeast Asia Awards.

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14 Apr 2023

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Stephenson Harwood (Singapore) Alliance advises Straitsman Limited on passenger ferry sale

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