Shipping

The shipping industry is in the process of transformation.

The shipping industry is inter-linked with the state of the global economy and the recent economic turmoil has had a major impact on the sector. Despite increasing operating costs and declining profits, the recession has given the shipping industry a chance to refine its processes and the fundamental outlook for the global shipping industry is stable. 

However, with liquidity remaining a discriminating factor in the foreseeable future, and liberalisation and competition establishing themselves as key features of the shipping industry, the landscape of the shipping looks set to be transformed.

Clifford Chance's dedicated Shipping Group works with ship owners and finance parties to support their activities and meet the challenges they face in the shipping industry.

A long-established shipping group

Clifford Chance's long-established Shipping Group – part of our global Transport & Logistics Group – advises shipping companies and financial institutions across the full spectrum of shipping markets. The dedicated practice handles corporate and commercial shipping matters and ship finance work, commodities and international trade work, specialising in offshore oil and gas matters and the more complex structured financings.

Clifford Chance is the only law firm in the world which regularly documents transactions in all current major equipment financing markets and we have extensive experience dealing with many of the major export credit agencies in respect of a wide range of shipping assets.

Areas of expertise

Our strength lies in the range of experience and expertise and our depth of specialist resource across our international network. We routinely advise finance parties and owners on:

• The structuring of complex cross-border financings of ship construction projects, and on the refinancing and restructuring of loan facilities.
• Lease financings, and working together with our tax specialists, we have advised on sophisticated tax-driven lease structures.
• The financing of ships and other maritime assets, including bank lending, lease financing and capital market transactions.
• Corporate matters related to shipping operations, including the incorporation of ownership companies, sale and purchase shares and joint venture arrangements.
• The construction of ships, drilling rigs, offshore platforms and all types of maritime assets.
• Commercial and financial transactions in the cruise and megayacht sectors, in the LNG sector and in other industrial shipping sectors.
• All aspects of shipping risk and on shipping insurances.
• Litigation, dispute resolution and arbitration matters in the shipping sector.