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Ship Finance

"Market-leading practice with excellent capabilities in financing and contentious maritime matters,
advising an impressive range of high-profile shipbuilders and P&I clubs."
– Chambers Asia-Pacific 2019

Overview

Kim & Chang’s Ship Finance Practice, with around 20 dedicated attorneys and specialists that are supported by a team of experienced paralegals, offers a practical, integrated, and multidisciplinary approach to ship finance transactions.  Our firm provides a comprehensive solution to ship finance needs in various areas including, mergers and acquisitions, insolvency (bankruptcy and rehabilitation), regulatory issues on foreign exchange, tax, customs disputes on energy, and accounting issues of various domestic and foreign shipping and shipbuilding companies.

Unparalleled Experience

As the undisputed leader in ship finance transactions in Korea, our customized services range from advising traditionally structured ship finance transactions to advising transactions structured by tax lease, share issuance, private equity and initial public offering of companies.

Integrated Service

Our practice also leverages the experience of professionals from diverse areas including banks, securities companies, shipping companies and governmental authority to deliver a complete and fully integrated solution to ship finance needs.

Key Servicesshow

Our practice covers all types of domestic and cross-border ship finance transactions representing domestic and foreign banks, financial institutions, shipping companies, private equity funds and ship management, shipbuilding companies, oil majors, LNG operating companies, and ECA lenders, and provides advice on all types of ship finance transactions. 

 

Typical transactions and services include: 

 
  • Asset financing, including, loan, lease, share issuance, structured finance, and ECA Facility;

  • Restructuring and merger and acquisition of domestic and foreign companies;

  • Sale and purchase of new buildings and chartering of vessels;

  • Incorporation of foreign SPCs, collective investment organizations, investment bodies/organizations, financing and tax issues;

  • Foreign exchange law and regulations, tariffs, international sanctions and accounting practices; and

  • Litigation in ship finance transactions.

 

In addition, we work closely with all the Korean government authorities in matters relating to the ship finance transactions.

Key Experiencesshow

We regularly advise on all legal matters and provide business consulting for 

 
  • Domestic and foreign banks and financial institutions including ECAs; 

  • Domestic and foreign shipping companies and managers and shipbuilding companies; and

  • Major cargo owners in the steel industry, gas and oil, etc. 

 

Some of the major ship finance matters for which we acted as counsel include:

 
  • Advised a ship investment company formed under the Ship Investment Company Act of Korea on ship financing.

  • Advised a foreign shipping company on the financing of very large container vessels. 

  • Advised a domestic shipping company on restructuring a Japanese Operating Lease with Call Option (JOLCO).

  • Advised and acted for a domestic shipping company on the financing of two LNG carriers. 

  • Advised and acted for a domestic shipping company on the refinancing of nine MR tankers.

  • Advised an ECA-financing of eight tankers and four LNG carriers being built for a foreign shipping company. 

  • Advised the financing of five very large crude oil carriers based on a new building program initiated by the Korean government.

  • Advised the financing of a foreign shipping company for three shuttle tankers.  

  • Advised the financing of a domestic shipping company for four PCTCs. 

  • Advised the acquisition of a domestic shipping company by a private equity fund.

  • Advised and acted for domestic and foreign interested parties on rehabilitation and restructuring of a domestic shipping company.

  • Advised various interested parties on debt-restructuring of a domestic shipping company.

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