Shipping team recognised in multiple award win at Marine Money 2022 Deal of the Year Awards

United States Press release - Recognition May 2023

Global law firm Norton Rose Fulbright’s shipping finance team has been recognised for its work on five winning deals at the Marine Money 2022 Deal of the Year Awards.

The Marine Money 2022 Deal of the Year Awards are organised by renowned shipping industry network, Marine Money International, and seek to recognise market-leading deals exhibiting excellence and innovation in the global ship finance industry throughout the past year.

Norton Rose Fulbright’s work was recognised with award wins in the following categories:

The M&A Deal of the Year

Advising Taylor Maritime Investments on its acquisition of 83 per cent of Grindrod Shipping Holdings valuing the company at $506m. The acquisition was made through its wholly-owned subsidiary, Good Falkirk (MI) Limited. The transaction creates a significant owner of midsized dry-bulk ships with a combined fleet of 58 vessels. The Norton Rose Fulbright team was led by partners Richard Sheen, Fiona Millington and Eleanor Martin in London and Ted Kamman in New York.

The Leasing Deal of the Year – West

Advising on a $160m Japanese Operating Lease with Call Option (JOLCO) financing of one LNG carrier for Seapeak. This was the first JOLCO for a second hand LNG vessel, the first JOLCO for Seapeak and the first shipping JOLCO arranged by SMBC London. London partner and global co-head of our shipping practice, Simon Hartley led the deal with senior associate Matthew Bambury. 

The Sustainability-linked Deal of the Year – East

Advised a syndicate of lenders on MISC’s US$527m Sustainability-Linked Senior Secured Term Loan for 6 VLECs. Loan key performance indicators include carbon intensity of MISC’s Gas Assets & Solutions fleet by means of the annual efficiency ratio. The firm’s work on this deal was led by partner Ben Rose in Singapore.

Private Placement Debt Deal of the Year

Advising Global Ship Lease on $350m Senior Secured Notes due 2027. This facilitated the repayment of the client’s remaining outstanding balance on its Senior Secured Loan Facility, as well as other corporate purposes. The Norton Rose Fulbright team was led by London partner Giles Brand.

Ship Finance Deal of the Year – Wild card


Advising Citibank on a new pool credit facility with Maersk Tankers. This strengthens Maersk’s pool’s working capital and improve cash flow for pool partners in a volatile and high tanker rate environment. The Norton Rose Fulbright team was led by counsel Tudor Plapcianu with head of finance Nick Grandage.

Commenting on the awards, Simon Hartley, global co-head of the shipping group at Norton Rose Fulbright, said:

“It is excellent to see many deals that we have recently advised on in the shipping and maritime sector recognised in these Awards. These accolades are testament to the comprehensive range of legal services our team provides to our clients and we very much look forward to continuing to support them further throughout 2023.”

Norton Rose Fulbright’s global shipping practice is recognised by Chambers Global 2023 as ‘Band 1, Global Market Leaders’ for shipping finance. The firm’s lawyers advise a range of clients on the full spectrum of international shipping finance including work for banks, lessors, brokers, owners and operators worldwide. They also cover areas ranging from anti-competitive actions to ship conversion disputes, decarbonisation and other environmental regulations and the digitalisation of the shipping industry."

For further information please contact:

Katie Mark, Senior Public Relations Manager

Tel: +44 20 7444 2498