We are long-term, specialist advisers to the international shipping business. We have a sound understanding of how the market works, both from the perspective of underwriters and clubs and that of their clients and members, as well as banks that specialise in providing finance for asset acquisitions. Our focus is on assisting our clients to finance, develop and grow their businesses, to guard against and manage risks, to help them to seek access to new markets, to deal with fast-changing international regulations and to assist them to resolve disputes.

• Admiralty: handling all emergencies, including maritime collisions, aviation disasters and all other international incidents. Experienced in advising on all aspects of such disasters, including emergency disaster control, public relations, preservation of evidence, strategic business planning, personal injury assistance, salvage and damage limitation. We also have considerable experience in handling offshore (as well as onshore) energy sector emergency incidents.

• Piracy and terrorism: practical experience of helping shipowners and underwriters respond to attacks on vessels by pirates and terrorists, including where crew and passengers have been taken hostage. Our lawyers include not only ex-master mariners, who have had command of a range of vessels in the merchant navy, but also ex-Royal Navy officers and other military personnel with specialist security training.

• Finance, leasing and tax: leading asset finance practice and advise on high-value, complex transactions, often with cross-border dimensions.

• Chartering and operations: advising owners and charterers on all aspects of freight and vessel operations.

• Mergers and acquisitions: all aspects of M&A, from the contractual arrangements and regulatory clearances to tax and financing.

• Commercial: advising on shipbuilding, all forms of shipping contracts, charterparties, pool agreements and bills of lading. Experienced in the sale and purchase of every type of commercial ship, and advise on structuring, incorporation, taxation, insurance, flagging and crewing.

• Cruise: specialist knowledge of the cruise business, advising all businesses with an involvement in the cruise sector, including those with ship finance, operations, claims or insurance interests.

• Employment: advise on all aspects arising from employment, including contracts, incentives, workplace disputes, regulatory issues and proceedings.

• Insurance and risk management: handling all insurance and risk management associated with shipping and, where necessary, on corporate restructuring and insolvency.

• Trading: advising those who trade both physical and financial freight on their contractual needs and transportation arrangements.

• Shipbuilding: prepare and/or advise on the terms and conditions of shipbuilding contracts, and assist our clients (both owners and shipyards) in conducting the commercial negotiations pertaining to these contracts. Advise on the pre- and post-delivery financing of all types of ships and offshore structures. Drafting and/or negotiating the financing documents as well as carrying out all necessary legal due diligence in respect of the relevant shipbuilding contract and refund guarantees. Act in disputes in Court and arbitrations concerning shipbuilding, ship conversion, offshore platforms and FPSOs. Advise on contractual and technical disputes, disputed cancellations, financing disputes, claims under guarantees, insurance, delay and force majeure claims.

• Acting for the salvors of the BP production drilling quarters platform vessel which nearly capsized in the Gulf of Mexico.  This is the most valuable property ever subject to the Lloyd's Open Form Contract (the standard form of salvage contract) being approximately US$1.2 billion.

• Acting for Bonny Gas Transport on an innovative $680m refinancing of their entire fleet of 13 LNG vessels (the largest-ever refinancing of LNG ships). The debt was provided by a syndicate of banks led by Standard Chartered Bank. Unusually for a debt transaction of this nature, in our role as legal counsel to the borrower, we were instrumental in structuring the transaction as well as responsible for drafting the loan and security documents for the banks' counsel to review.

• Acting for a Bermudian holding company in a capital raising exercise to fund a $50m investment in a subsidiary which will write residue value insurance on ships.

• Advising on the US$100m acquisition of 50% of the share capital of Associated Bulk Carriers plc, involving complex shareholder agreements, commercial and ship management agreements and the establishment of a pool of bulk carriers.

• Acting for owners and underwriters in relation to an explosion occurring in 2004 whilst a gas carrier was alongside a gas terminal in South America, which resulted in the total destruction of the terminal and vessel, and resulting liability, pollution and loss of life claims.

After enjoying several years of boom, shipping has faced difficult times over the last two years, as the global credit crunch and subsequent economic downturn have affected all sectors of the industry. The downturn has probably been the biggest challenge facing the industry in modern times.

However, there is still a potential over-supply of vessel tonnage, with much depending on continued demand from India and, particularly, China. Also, ships are still getting bigger, particularly container ships, presenting logistical challenges to ports’ infrastructure, and strain on the numbers and skills of crews.

There are also the ever more stringent environmental and regulatory requirements for shipping and the phenomenon of ‘Convention creep’ – in particular the Limitation Convention and the Athens Convention. And, whilst these have undoubted benefits in ensuring high standards within the industry, they are imposing an increasing burden on the sector.