White & Case LLP International Law Firm, Global Law Practice -
Maritime & Shipping
Significant challenges and opportunities exist in the shipping and
broader maritime sectors. Certain market segments are still feeling
the effects of the recent economic downturn and the continuing absence
of market equilibrium. Our work has helped to keep maritime companies
afloat and their backers' interests protected. Although financial
restructurings are continuing, the demand for capital remains strong
given anticipated capital expenditure levels and required
refinancings, with notable bright spots for investors. At the same
time, potential M&A activity and consolidations (including through
pooling and similar arrangements) may increase as we move forward.
With traditional lending sources withdrawing from the sector, we
advise clients as they seek to address existing challenges:
underperforming portfolios, access to new sources of capital and
consideration of investment opportunities. Supporting our clients as
they optimize their strategies We advise on some of the toughest
issues in this sector, including restructurings, refinancings, capital
raising, M&A transactions, private equity involvement, regulatory
compliance and disputes. We have extensive experience in bankruptcy
proceedings and workouts and in financing transactions in a broad
range of sector segments, in addition to a variety of general fleet
financings, with regards to liquid natural gas (LNG) transportation
and offshore rig assets and ports and related infrastructure. We have
extensive experience advising clients on "full value chain" investing
where they seek to acquire maritime assets for their own businesses,
as well as knowledge and experience in fundamental maritime issues
relating to time and bareboat charters, tax leases, flagging,
classification, ship-building contracts, ship mortgages and delivery
disbursement conditions. Our clients include banks, underwriters and
other financial institutions, shipping companies, oil and gas
companies, government agencies, and private equity and hedge funds.
The maritime business and our role Our global, cross-disciplinary
approach enables us to support those looking to enter the market, to
expand existing positions and/or to address the challenges associated
with underperforming assets and positions. Our clients depend on sound
advice to protect their investments, to maximize their returns and to
negotiate complex restructurings in a volatile and hard-to-read
environment. Financial restructurings When a bankruptcy or consensual
financial restructuring is looming, stakeholders have to work fast to
preserve value, stabilize operations and stem their losses. We have
represented creditor groups in some of the largest maritime
restructurings in recent years, in each instance drawing on our
industry-leading team of worldwide restructuring professionals.
Capital raising – general fleet financings, LNG, offshore and ports
and related infrastructure As maritime businesses look to evolve and
address the challenges presented by tighter liquidity conditions, we
advise a variety of existing stakeholders and other entities seeking
to enter the sector in the financing and/or refinancing of existing
assets and new builds. This is a dynamic area for the shipping and
broader maritime sectors and increased activity is expected. M&A and
consolidations Notwithstanding the generally fragmented nature of the
overall sector, we have seen an increase in M&A activity and
consolidations (including through pooling and similar arrangements).
We represent stakeholders in sophisticated acquisitions, group
restructurings and consolidation transactions across a number of
market segments and jurisdictions. View all lawyers in Maritime &
Shipping AWARDS "White & Case LLP’s highly rated asset finance
group is extremely experienced in . . . shipping finance."The Legal
500 United States 2014 "White & Case has a comprehensive team which
can offer bespoke solutions and analysis, and co-ordinate the right
pockets of wisdom to do a deal."Chambers UK 2014,
Restructuring/Insolvency "Attracts praise for its ability to
co-ordinate large cross-border deals involving multiple jurisdictions,
as well as the integrated nature of its European network."Chambers
Global 2014, Europe Corporate/M&A Tier 1: ShippingThe Legal 500 Asia
Pacific 2014 (Tokyo) Band 1 Highly Regarded:
Insolvency/RestructuringChambers UK 2014 Recommended: Shipping
FinanceThe Legal 500 EMEA 2013 "This firm provides a comprehensive and
one-stop service across the full range of asset finance work."Chambers
Global 2013 "White & Case LLP’s ‘highly skilled and
knowledgeable’ group predominantly acts on aviation or ship
finance."The Legal 500 United States 2013 Tier 1: Equipment Finance
Law (National)US News & World Report—Best Lawyers: Best Law Firms
2013 DEALS OF THE YEAR Port Finance Firm of the Year 2014Global
Transport Finance Restructuring Deal of the Year 2012 TORM A/S vessel
financingMarine Money 2012 Industrial and Manufacturing Deal of the
Year General Maritime restructuringThe M&A Advisor Infrastructure
Finance Deal of the Quarter Century US$1.5 billion Odebrecht Norbe
VIII/Norbe IX Bond OfferingLatinFinance 2013 Americas Project Finance
Deal of the Year US$900 million financing of Amaralina Star and Laguna
Star DrillshipsInternational Financial Law Review 2013