Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

With a long list of talent on board, Holman Fenwick & Willan is an established kingpin in the market. The firm’s Singapore team advises on a diverse range of topics, including but not to wet and dry shipping, contentious and non contentious insurance, shipbuilding, ship finance as well as major corporate matters.

Additionally, as Singapore cements its position as a centre for international arbitration, the firm continues to establish itself within the shipping dispute resolution space.

Partners Simon Davidson and Paul Aston are particularly well respected in this area, while Barry Stimpson is praised by one client for his expertise in handling commercial and shipping disputes, in particular relating to charterparties, letters of credit and insurance disputes.

The team is also active in the Indian market, as well as assisting clients on mergers and acquisitions, project developments, finance matters and energy and resources.

Under the guidance of respected managing partner Richard Lovell, Ince & Co continues to provide top tier quality legal services to the industry, and successfully marries a dynamic ship finance practice with a well respected ship litigation team.

In one highlight, a firm team led by Martin Brown and Gregory Xu advised Axis Bank on a facility agreement for a US$78.5 million loan and letter of credit facility to Mercator Offshore (Nigeria) for building and operating a Floating Production Unit to be deployed offshore Nigeria.

Partners Simon Spark and John Simpson also assisted TMT Asia in a dispute concerning a settlement agreement concluded between Oceanbulk Shipping & Trading and TMT Asia & Ors in June 2008.

The team was also involved in a number of high publicity multi-jurisdictional shipping insolvencies; notably Glory Wealth, Armada, Pan Oceanic and Worldlink. In November, the firm introduced a casualty investigation package for its protection and indemnity insurance club clients, which provides a tiered range of emergency response and investigative services to its members.

Peers speak highly of energy specialist Denys Hickey. Arbitration partner Simpson and insurance lawyer Iain Anderson also come recommended for their expertise and accessibility to clients.

Onlookers expect significant developments in the firm’s ship finance service offering in the coming year, following the establishment, in April 2011, of the Ince Law Alliance with newly formed Singapore law practice Incisive Law. The tie up brings senior Singapore lawyers Bill Ricquier, Mohan Subbaraman, Bernard Yee, Tricia Tong and Carolyn Chia on board.

Clyde & Co’s Singapore team has enjoyed another successful year. Well known for its shipping litigation practice, the firm acts across the shipping industry handling all types of marine claims and liabilities for shipowners, yards, operators, managers, charterers, financiers, P&I clubs, insurers and underwriters.

Most recently, the Singapore team was involved in a major litigation case resulting from the collision of two passenger ferries off Macau, and a collision in South Korea where a Chinese owned vessel sank resulting in loss of life and oil pollution.

The team has also acted on behalf of hull underwriters to investigate the cause of grounding and a possible unsafe port claim in Indonesia, protecting the underwriters’ position in relation to repairs undertaken in Singapore. It also acted for the cargo interests in a collision that resulted in the largest oil pollution incident in Singapore waters.

Partners John Champion and Chris Edwards are key contacts in the group.

Clients speak highly of the “joined up service” on offer at the firm.

Under the leadership of respected shipping lawyer Gervais Green, the firm’s three partner shipping and asset finance team has built up a reputable practice. It focuses on innovative structured financing solutions for shipping and offshore projects globally, with emphasis in particular on the energy transportation/oil and gas upstream sectors.

This year, the team has been particularly active on projects involving the financing and provision of offshore drilling/production rigs, FPSOs and IFSOs. Most notably, in November, Green led a firm team advising DVB Group Merchant Bank (Asia) on its US$420 million export credit supported loan facility to OSX 1 Leasing.

Clients also note the firm’s increasing involvement in shipping related restructurings, as well as a continued expansion of the team. The past year saw the promotion of Robert Driver to partner and the addition of two senior associates, Kate Sherrard and Kate Nimmo, from Watson Farley & Williams.

The firm’s aviation team, led by partner Leigh Borrello, has also enjoyed an active 12 months, representing most of principal banks lending in Asia. This includes Calyon, Standard Chartered Bank, BNP Paribas, ANZ Bank and Societe Generale, on both commercial and export credit supported financings.

As the only international firm to have its global head of aviation, Paul Ng, located in Singapore, Stephenson Harwood has established itself as a key player in this sector. Among a number of highlights this year, Ng together with partner Matthew Gorman led a team of advisers to Tiger Airways on its joint venture with Thai Airways and Ryanasia to establish a low cost carrier flying routes within and to and from Thailand. This complex deal involved a number of challenges and requirements from the Thai Transport Ministry and competition authorities.

In shipping, the firm benefits from a combined strength in ship finance and ship litigation. Peers particularly note the firm’s admiralty, dry litigation, and offshore capabilities.

This year, partner Iain Young led a team assisting DVB Group Merchant Bank (Asia) on financing the acquisition of a secondhand bulk carrier. This was the first acquisition of a vessel, employed under an existing charter with a major Korean owner, by an SPC incorporated by a new Korean finance fund with senior debt provided by DVB and junior debt provided through a participating bond agreement.

Clients speak highly of partner Gregg Johnston. With over eights years experience in the market, he has built a strong following among many major ship finance clients, including DVB, HSH Nordbank, Nordea, ICON and STX Pan Ocean.

With clients ranging from owners and operators to leading financial institutions, Watson Farley & Williams’ Singapore team leverages off the firm’s international connections.

Its expertise goes beyond pure maritime transport, and includes know how in related sectors such as offshore oil and gas, ports and logistics. However, the team’s strength lies in shipping work outs and enforcements.

Under the leadership of partners Chris Lowe, Ken Cheung and Marcus Gordon, the team regularly acts for banks, enforcing their loans and ship mortgages, and has also advised on ECAs, sale and leasebacks, upstream/offshore project financing as well as on newbuild and second hand ship financing, finance leasing, and ship sale and purchases.

Work highlights include advising Singapore Airlines on its first GOL transaction financing. Partner Siva Subramaniam led the team acting on this landmark deal, the lease structure of which included an innovative extension option for SIA.

Subramaniam also advised Amentum Capital on the US$300 million financing and leasing of three A330 planes to Vietnam Airlines.

Partners Josh Clarke and Mehraab Nazir are also key contributors in the sector.

Thomas Cooper advises regularly on all aspects of maritime law, ranging from major maritime losses to death and personal injury claims, and day to day commercial disputes arising under shipping contracts. These can include charterparties and bills of lading, as well as shipbuilding contracts. Partner Johan Wong is the key contact.