Shipping
&
Maritime

Overview:

Over the years, ASAR has developed an expansive and comprehensive shipping and maritime practice that has resulted in our growing reputation of being leaders in the field.

We represent leading shipping companies, international P&I clubs, insurance companies, and various local shipping agents in the Gulf region.

Some of the services we offer include representation of cargo owners, carriers, ship owners and insurance companies in matters such as shipping litigation, ship arrests, ship mortgages and ship finance. Our services extend to the preparation of appropriate documentation and investigating accidents and incidents.

Experience:

  • Acted as Kuwait law counsel to United Arab Shipping Company S.A.G. in relation to its US private placement/Regulation structured financing transaction relating to various container vessels. The above transaction was described in Marine Money International magazine’s “Structured Finance and Innovation Deal of the Year,” as “the first shipping transaction of its kind to incorporate structured finance technology by ensuring favourable legal protection, timely creditor access to the vessel collateral and a liquidity facility similar to an Enhanced Equipment Trust Certificate.”
  • Advised 18 lenders on the financing of the build and purchase of 17 vessels to be owned by a regional company and the pledge of the shares of 38 SPVs located outside of Kuwait.
  • Advised lenders to a leading multinational shipping company (led by Societe Generale) on their provision of a facility for the financing of a container carrier in 2010. ASAR’s role included reviewing the loan and security documents, providing Kuwaiti law advice and issuing a legal opinion.
  • Advised lenders to a leading multinational shipping company (led by Qatar National Bank) on their provision of a facility of USD 275 million. ASAR’s role included reviewing the loan, preparing security documents, providing Kuwaiti law advice and issuing a legal opinion.
  • Advised lenders to a leading multinational shipping company (led by Société Générale) on their provision of a facility for the financing of a container carrier in 2011. ASAR’s role included reviewing the loan and security documents, providing Kuwaiti law advice and issuing a legal opinion.
  • Advised lenders to a leading multinational shipping company (led by UBS Limited) with regard to EUR 84 million registered notes series to finance a container carrier under construction. ASAR’s role included reviewing the loan and security documents, providing Kuwaiti law advice and issuing a legal opinion.