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Ship finance in Asia / 2020

incegd.com Europe & Middle East & Asia


Ship finance in Asia / 2020

Ship Finance Award — Seatrade Maritime Awards Asia

“A stalwart of the shipping industry” — Legal 500, Asia Pacific


Ship finance in Asia / 2020

Ince

In the ship finance area, we are recognised for our full range of expertise in all aspects of asset financing for both lenders and borrowers, advising a diverse range of international clients including banks, owners, insurers and operators.

Our expertise extends to conventional ships, drilling units, specialist vessels for trading, operations or scrap. In Asia, our finance lawyers work closely alongside our casualty, corporate and specialist insurance teams to evaluate the whole range of risks and advise on strategies to minimise exposure on transactions.

Our advice covers: -

Tier 1 ranking in shipping finance — Legal 500, Asia Pacific

acquisition of newbuildings; complex syndicated financings; construction; corporate structures; debt and equity and lease finance; enforcement of ship mortgages by attachment and enforcement of judgments; joint ventures, mergers, acquisitions and disposals; preparation and negotiation of loan and security documents; primary and bareboat registration; refinancing and workouts; restructuring; sale and purchase for trading; scrap of secondhand tonnage; shareholder agreements; and ship finance transactions.

multiple nationalities countries

offices

different language capabilities

employees worldwide, including support staff

legal and business services professionals

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Ship finance in Asia / 2020

Ince

Advice to banks across the region includes: -

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Advising SMBC as lead arranger of a syndicate of banks on two non-recourse term loan facilities (totalling US$360 million) to the BW Pavilion LNG Group for the purpose of acquiring two newbuild LNG vessels (the BW PAVILION VANDA and BW PAVILION LEEARA). Advising various major banks in Asia in relation to the financing of three 13,200 TEU container vessels of OOCL under Japanese operating lease structures with an aggregate loan amount of US$311 million. Advising National Australia Bank Limited on a syndicated loan facility for the purpose of financing 4 tankers owned by the leasing arm of Bank of Communications and chartered to a Canadian operator. Advising a key European bank in relation to a term loan facility transaction involving two joint venture companies set up by a major Chinese shipbuilding and trading company and a German shipping company, for the financing of two multi-purpose heavy lift carrier newbuildings. Advising a major global bank on loan facilities granted to a prominent Hong Kong shipping company for the purpose of acquiring a number of newbuild mega containerships. Advising a Chinese policy bank on secured term loan facilities to a major Chinese logistics conglomerate for financing the acquisition of ten newbuild VLOCs. Advising a major Chinese bank on post-delivery facilities for financing the acquisition of five VLCCs under construction at Chinese shipyards. Advising a Norwegian bank on four syndicated facilities in excess of US$1 billion including junior loans, amendments to swap arrangements, restructuring of the security package and complex inter-creditor issues. Advising a major PRC bank in respect of a bank facility equivalent to approx US$360 million to finance the purchase of 40 vessels. Advising a syndicate of banks in relation to the restructuring of loan facilities totalling US$1.2 billion for the purpose of financing VLOCs and LPG vessels; this involved the amendment of each facility and complex inter-creditor arrangements relating to the security. Advising Nordea on the restructuring of three large syndicated facilities to the Eitzen group with complex inter-creditor issues.

Advice to owners across the region includes: -

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Advising ICBCL as the lessor under a financial leasing transaction, involving nine ships for China Ship Fund (which included five 57,000 dwt bulk carriers and four 92,500 dwt bulk carriers) with a total value in excess of US$240 million. Advised Seacor Marine in its US$137 million acquisition and reflagging of 11 vessels from the Pacific Richfield Marine group which was financed by DNB. Advising on a secured US$150 million revolving credit facility for a shipowner. Advising a shipping company on their US$600 million fleet refinancing. Advising on the tender, final contract, financing and construction of a US$460 million crane vessel for a marine construction company. Advising a drilling company in connection with the security aspects of a US$200 million bond issue to finance the construction and acquisition of two semi-submersible drilling rigs. Advising a large offshore drilling contractor on a joint venture and leasing structure for a drill ship currently under construction. Acting for a global bank’s principal finance team in its acquisition and financing of three Valemax VLOCs, using a combination of securitisation cash flow techniques, conventional bond standards and asset-based finance collaterisation.

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Ship finance in Asia / 2020

Ince

You & Ince, in any case With a heritage reaching back 150 years, Ince is a dynamic international law firm, trusted by the world’s most ambitious individuals and organisations. We are a collaborative and proactive partner who service our global client base from 11 offices across Europe, the Middle East and Asia. We are renowned for providing the highest quality legal advice and strategic guidance to our clients, from the world’s oldest and biggest businesses to ultra-high net worth individuals.

By combining our deep expertise, legal knowledge and market experience, we are able to service our clients’ most complex disputes, transactions and projects. With over 500 people, including over 100 partners worldwide, we practise English, German, Greek, Hong Kong and PRC law. Through being part of Gordon Dadds Group and being listed on the London Stock Exchange as well as our first class legal services, we are able to provide a wealth of professional services and advice to our clients. Our broad reach enables us to add real value and create opportunities for our clients by making connections between them and our extensive network of contacts and experts.

Our office locations Hamburg Cologne London Aberdeen Cardiff

Beijing

Gibraltar Shanghai Piraeus

HongKong

Dubai Singapore

Ince office locations Ince geographical initiatives

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Ship finance in Asia / 2020

Ince

Our team in Asia For further information please contact :

David Beaves

Gary Wong

Janice Lee

Managing Partner, Hong Kong T. +852 2877 3221 davidbeaves@incegd.com

Partner, Hong Kong T. +852 2877 3221 garywong@incegd.com

Partner, Hong Kong T. +852 2877 3221 janicelee@incegd.com

Eileen Tang

Ying Ying Hui

Partner, Shanghai T. +86 21 6157 1212 eileentang@incegd.com

Head of Asia Client Development , Hong Kong T. +852 2509 5216 yingyinghui@incegd.com

Devandran Karunakaran

Bill Ricquier

Managing Partner, Singapore T. +65 6538 6660 devandrankarunakaran@incegd.com

Managing Director Incisive Law LLC, Singapore T. +65 6505 0162 bill.ricquier@incisivelaw.com

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Ince

Ship finance in Asia / 2020


Ship finance in Asia / 2020

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