Ship and yacht finance

The formidable team provides better quality and better value than many rivals, and is nicer to deal with to boot.

The Legal 500
ship and yacht finance Image

Latest news & insights:

Whether it is keeping afloat the container vessels which convey the world’s goods or safeguarding the luxury superyachts of the rich and famous, there will often be complex finance structures in place which require the support of a commercially-driven and knowledgeable legal team.

Our ship and yacht finance lawyers offer practical and timely advice, rooted in the firm’s long maritime history. In the commercial maritime sector we act for international banks and financial institutions, ship-owners, shipyards, tug operators and the cruise industry on a broad spectrum of ship finance, shipbuilding and repair contracts. From the negotiation of yard slots to the delivery of vessels worldwide, we are able to provide local language support through our network of overseas offices. We have particular expertise in the Far East market with regular successful deliveries in China across a range of vessels.

Where security issues arise, we are able to combine our maritime capability with our banking experience, and regularly advise financing banks, yards, and owners in relation to performance bonds and refund guarantees. Commercial and technical management contracts are regularly negotiated by our team, whether as part of a vessel leasing structure or otherwise.

Acting for some of the largest owners and charterers in the maritime sector, our lawyers advise and assist with the financing of new buildings, the purchase of second hand tonnage and the re-financing or re-flagging of fleets of vessels. Drawing on the enforcement knowledge we have gained in past economic downturns, we are able to ensure that the security is resilient and any performance and refund arrangements are robust.

When it comes to vessel sale and purchase, where we may be engaged to represent buyers, sellers, charterers or “incoming” and “outgoing” banks, our lawyers’ specialist skills and understanding of the salient issues mean that even the most complicated multi-jurisdictional closing is completed efficiently and properly resourced.

The depth of our service offering and our strong track record allow us to bring additional benefits to our yacht and superyacht clients, ranging from family offices to individual owners. Whether advising on large-scale projects, where our expertise in the commercial cruise and other maritime sectors is key, to the bespoke leisure yacht market, we fully appreciate the many factors at play. In each case, across all types of new build, charter or sale and purchase projects, our lawyers offer the full package of legal services required.

We offer expert advice on:

  • all types of asset finance
  • vessel sale and purchase
  • yacht and superyacht chartering
  • commercial and technical ship management
  • vessel leasing structures
  • new building contracts
  • refit and ship repair contracts
  • shipbuilding and repair

Recent work highlights

Dual container vessel delivery

Advising a leading European transportation and logistics company on ECA-backed and international financing arrangements and the delivery of two new 2,150 TEU container vessels, the largest in its fleet.

Ambitious tug fleet expansion

Acting on a €125 million financing for a European tug operator to refinance its entire fleet and provide for a substantial new build programme.

Multi-million euro cruise ship contract

Advising a cruise operator on a €270 million new build contract in a European yard which includes sister vessel options.

Related expertise

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP