International Maritime Group offers a robust maritime financial services practice, with experience in all aspects of asset finance.
Whether you are an investment advisor looking to expand your maritime portfolio investments, an institutional lender enforcing a preferred ship mortgage, or a shipowner trying to understand your rights and responsibilities under a finance or lease agreement, our attorneys can guide you through the challenges.
We advise financial institutions, private equity firms, shipowners, lessees, operators, and others on all aspects of asset finance issues ranging from purchase, sale, or lease transactions to remedies in default and maritime lien enforcement.
We also assist clients with restructurings, including asset buybacks, sale and leasebacks and refinancing. And we have assisted clients with such issues pertaining to all types of vessels – tankers, bulk carriers, container vessels, offshore drilling rigs and production units, FSRUs and other specialist vessels.
FINANCIAL STAKEHOLDERS WE WORK WITH:
- 3rd Parties
- Equity investors
WE ASSIST WITH THE PURCHASING AND FINANCING OF ALL TYPES OF VESSELS:
- Tugs and Barges
- Fishing Vessels
- Tankers and Bulk Carriers
What to Expect From Your Legal Team
We provide practical, commercial and results-driven advice on a discreet and confidential basis. All assignments will have a nominated lead partner who will be your dedicated point of contact. We will work to your agenda, timescales and budgets to achieve the best outcome. We would expect to be your trusted adviser during the process and our industry knowledge and reputation will facilitate a direct and open dialogue between all stakeholders.
Who we work with
IMG has a long history of advising fisherman, vessel owners, seafood processors, and traders in the global seafood industry. When it comes to the legal issues that impact our clients, there is nothing we can’t handle.
IMG works closely with banks and vessel owners in secured and unsecured commercial loans of all sizes, and we efficiently staffing each transaction according to its legal complexity and our client's budget considerations. IMG attorneys routinely represent banks and other financial institutions with their asset-based loans and asset recovery actions, and have years of experience negotiating forbearance or debt restructuring agreements well before and maritime litigation, foreclosure, or arrests actions are undertaken. When matters turn contentious and litigation or an arrest action is unavoidable, IMG will carefully assist our institutional clients in enforcing their rights as secured and unsecured creditors—regardless of the forum, type of proceeding, or governing law.
Private equity entered the shipping industry following the global financial crisis and has prompted a great deal of discussion around its long term role in shipping. Many private equity funds initially entered into joint ventures with shipowners. Recently, however, we have seen that a number of these funds are more interested in buying loans from traditional banks, at a large discounts, in order to see immediate profits. We have worked with lenders, lessors and borrowers, banks, equity investors and shipowners, buying or financing all types of vessels – tankers, bulk carriers, container vessels, offshore drilling rigs and production units, FSRUs and other specialist vessels.
The way ships are financed has changed considerably in the past ten years, and the market has continued to evolve. In the years following the global financial crisis new ship finance structures have been developed and new sources of finance have become available to the industry. Following the substantial reduction in the availability of financing from traditional banks, shipowners are increasingly having to turn to alternative financing sources. This is particularly the case for small to medium-sized shipowners, as traditional lenders are generally focusing on larger shipping clients due to regulatory and risk management requirements. As a result of this, shipowners are now becoming increasingly interested in considering structures such as high-yield bonds, convertible debt, capital and operating leases, as well as preferred equity structures.