Shipping: finance in United States

Cozen O'Connor

The highly regarded ship finance team at Cozen O'Connor represents a stellar roster of vessel owners, operators and financial institutions in the full gamut of maritime financing matters, including asset-based loans, government-guaranteed credit facilities and leasing transactions. A notable area of expertise involves advising investors on maritime M&A matters, as well as maritime bankruptcies. From the New York office, Geoffrey Ferrer specializes in US and non-US flag shipping matters, maritime bankruptcies and all aspects of asset-based lending. Ferrer also leverages expertise in the maritime and corporate laws of relevant jurisdictions, notably Marshall Islands, the Bahamas, Liberia and Vanuatu. In Washington DC, Jeff Vogel represents shipowners in the financing of commercial, passenger and fishing vessels, whilst Josh Stein advises US and international clients regarding the formation and reorganization of business entities, alongside compliance with US cabotage laws. Matthew Howell, Rachel Schwartz and Kathryn Sobotta are key contacts in Washington DC.

Responsables de la pratique:

David Heffernan; Geoffrey Ferrer; Robert Magovern


Autres avocats clés:

Jeff Vogel; Josh Stein; Matthew Howell; Rachel Schwartz; Kathryn Sobotta


Principaux clients

Seadrill Limited, J.P. Morgan SE and J.P. Morgan Securities plc


Easterly Tankers Holdings III LLC


Easterly Tankers Holdings I LLC


Easterly Offshore Holdings IV AS


BOP Holdings LLC


Navios South American Logistics Inc. and Navios Logistics Finance (US) Inc.


Costamare, Inc.


Safe Bulkers Inc.


Global Transport Income Fund Master Partnership SCSp


Waterman Transport, Inc., and Green Bull One Corporation


Waterman Transport, Inc., and Green Bull One Corporation


TOTE Services, LLC


U.S. Marine Management, Inc.


National Association of Waterfront Employers (NAWE)


McAllister Towing and Transportation Company, Inc.


Principaux dossiers


  • Acted as joint counsel for Seadrill Limited, Seadrill Finance Limited and certain of its Marshall Islands entities, as borrower or guarantors, J.P. Morgan SE, as administrative agent for a revolving credit facility and J.P. Morgan Securities plc, as lead representative for the initial purchasers of high yield notes issued by Seadrill Finance Limited.
  • Advising Easterly Offshore Holdings IV AS in connection with a senior secured term loan facility in an amount up to USD 98,400,000 to be provided by Macquarie Bank, London Branch, and a mezzanine facility in an amount of up to USD 34,800,000 to be provided by Flexpoint Ford, LLC to finance the acquisition of two Norwegian flag construction support vessels.
  • Represented TOTE Services, LLC in its role as the prime contractor/vessel construction manager (VCM) for the Maritime Administration’s National Security Multi-Mission Vessel (NSMV) program.

Jones Walker LLP

Jones Walker LLP is distinguished by the depth of its maritime transaction practice, representing leading private and public companies in a diverse array of financing acquisitions, divestitures and restructurings. With strong expertise in the blue water, offshore and inland marine sectors, the team is turned to by longstanding domestic and international clients for counsel in complex ocean and inland vessel acquisitions, registration and flagging matters. The practice is spearheaded by New Orleans-based William C. Baldwin , who is renowned for his extensive expertise representing borrowers, lenders and agents in high value marine finance deals, alongside notable work for stakeholders in the offshore wind industry. Kelly Duncan harnesses four decades of experience within the maritime sector, specialising in international commercial transactions, maritime lien enforcement, marine acquisitions and regulatory issues. Christopher Ulfers represents clients in the negotiation and drafting of maritime contracts, James Kearns has experience with financings under the Title XI loan guarantee program, whilst Houston-based Cindy Matherne Muller co-chairs the firm’s offshore wind work.

Responsables de la pratique:

William Baldwin


Autres avocats clés:

Kelly Duncan; Christopher Ulfers; James Kearns; Cindy Matherne Muller


Principaux dossiers


Seward & Kissel LLP

The maritime finance team at Seward & Kissel LLP harnesses ‘first class understanding’ of the shipping sector to advise a stellar roster of public maritime companies and financial institutions in their full range of corporate and transactional activities. The team regularly advises clients in loan transactions, financial and operating leases, securitization and other global financing transactions. The New York-based practice is jointly spearheaded by ‘leaders in the field’: Keith Billotti  advises in complex maritime transactions; Edward S Horton  focuses upon corporate securities law, representing domestic and international issuers and underwriters in connection to various securities transactions. Sophia Agathis, Mike Timpone, and Kurt Plankl have departed the team.

Responsables de la pratique:

Keith Billotti; Edward Horton


Les références

‘They are the best New York City ship finance practice, bar none.’

‘Keith Billotti and Ted Horton are top notch, leaders in their field.’

‘Over the past year, we have collaborated extensively with Seward & Kissel LLP on various capital markets transactions involving shipping companies. Their exceptional expertise in the New York Stock Exchange stands out, enabling them to offer precise guidance on even the most complex issues. Seward & Kissel LLP consistently demonstrates outstanding professionalism and efficiency in resolving intricate matters, with their prompt responsiveness being another significant strength.’

Principaux clients

DNB Bank ASA


Scorpio Tankers Inc.


First Citizens Bank


Credit Agricole Corporate & Investment Bank


ING Bank NV


SFL Corp. Ltd


Euronav NV


Torm PLCFlex LNG Ltd.


EnTrust Global (Blue Ocean Funds)


Principaux dossiers


  • Advised DNB Bank ASA in connection with a $50,000,000 senior secured term loan facility guaranteed by Pangaea Logistics Solutions Ltd.
  • Advised Eldorado drilling AS in connection with a $550,000,000 financing for two drillships.
  • Advised Blue Ocean Funds in connection with a $122,000,000 Senior Secured Term Loan guaranteed by SEACOR Marine Holdings Inc.

Watson Farley & Williams (New York) LLP

The marine practice at Watson Farley & Williams (New York) LLP leverages ‘deep knowledge’ of the shipping sector, with the team’s extensive expertise extending beyond the US to include Marshall Islands, Liberia and Vanuatu corporate and maritime matters. The firm is praised for its client-centric approach, representing clients in capital markets and private equity transactions, restructurings, insolvencies and sanctions, as well as advising on various aspects of the Jones Act. Senior partner George Paleokrassas is a key name in the New York practice, acting for leading shipping lenders and shipowners in a broad range of transactions; practice head Christopher Belisle is highly regarded for his commercial litigation experience and frequently advises on asset-based loan facilities for ships, lease financings and various aspects of the Jones Act; Steven Hollander handles a range of international transactions; whilst John Benson represents financial institutions, private equity funds and shipowners and operators in cross-border asset-backed structured transactions. Robert Kritzman brings extensive experience within the global cruise sector. Filana Silberberg and Will Vogel are key contacts for corporate and securities matters, and counsel C J Chido acts in cross-border asset-backed financings in the maritime sector.

Responsables de la pratique:

Christopher Belisle


Autres avocats clés:

George Paleokrassas; John Benson; Steven Hollander; Filana Silderberg; Will Vogel; Robert Kritzman; CJ Chido; Maxi Adamski-De Visser


Les références

‘Deep knowledge of the law and industry.’

‘Creativity in finding solutions, real interest in what is in the best interest of the company.’

‘Loyalty to their clients.’

Principaux clients

Altera Infrastructure


Dorian LPG Ltd.


Dynagas


Global Ship Lease


Globus Maritime Limited


ICON Energy


Mitsui O.S.K. Lines


Navigator Holdings


Okeanis Eco Tankers


Pavimar


Performance Shipping Inc.


Royal Caribbean Group


SEACOR


Seanergy Maritime Holdings Corp.


Teekay Corporation


Top Ships Inc.


Transcend Cruises


United Maritime Corporation


Principaux dossiers


  • Advised Okeanis Eco Tankers Corp. (Okeanis), as U.S. securities and Marshall Islands legal counsel, on its listing of common shares on the New York Stock Exchange, including filing and having declared effective a registration statement with the U.S. Securities and Exchange Commission.
  • Advised Icon Energy Corp. on its initial public offering on the Nasdaq Capital Market of 1.25 million common shares at US$4.00 per share. The company’s common shares began trading on July 12, 2024, under the symbol ICON.
  • Acted as special maritime counsel to SEACOR Holdings Inc. (SEACOR), through its subsidiary Seabulk Tankers, on the formation of a joint venture with Crowley through the final contribution date under the joint venture agreement.

Blank Rome LLP

The ship finance team at Blank Rome LLP represents significant clients on both the borrower and lender side, operating across offices in New York, Washington DC and Houston. The team handles the full range of maritime financing matters, with a significant recent mandate for Philly Shipyard Inc. seeing the firm negotiate a vessel construction agreement to build the first Jones Act compliant fallpipe subsea rock installation vessel. In the Washington DC office, practice head Anthony Salgado remains a key authority on Jones Act matters, notably Jones Act citizenship issues and their impact on US ship financings and transactions. Salgado’s practice extends to encompass Title XI financings, offshore shipping company bankruptcies, and shipping M&As and joint ventures, with strong expertise in Liberian and Marshall Islands maritime law issues. Natalie Radabaugh handles a wide range of US and foreign maritime transactions, including vessel secured financings, lease financing and vessel construction agreements. Based in Houston, Douglas Shoemaker has extensive arbitration experience concerning domestic and international maritime contractual disputes, whilst also being deeply involved in the US offshore wind industry.

Responsables de la pratique:

Anthony Salgado


Autres avocats clés:

Natalie Radabaugh; Douglas Shoemaker


Principaux dossiers


Holland & Knight LLP

With an impressive clientele of US and foreign banks and investors, the team at Holland & Knight LLP is routinely called upon to advise in major international shipping transactions, Jones Act compliant financing matters and shipping group restructurings. A growing area of focus for the firm involves representing non-traditional sources of ship financing, including private equity transactions, governmental finance support entities and underwriters in capital markets. The team also leverages key expertise in Marshall Islands and Liberia-related tax issues. New York-based Jovi Tenev handles the full spectrum of shipping and offshore matters for notable banks and financiers; Richard Furey focuses upon US and global asset and infrastructure finance, acting for vessel owners, lenders and charterers; and Washington DC-based Gerald Morrissey III is recommended for his ability to ‘quickly and creatively’ respond to the needs of clients in a range of maritime investments and acquisitions, regulatory compliance matters and Jones Act transactions. Another key contact is senior counsel Cynthia Liu. Mike Timpone, Sophia Agathis, and Kurt Plankl joined the team in April 2025.

Responsables de la pratique:

Phil Durham


Autres avocats clés:

Richard Furey; Gerald Morrissey III; Cynthia Liu; Mike Timpone; Sophia Agathis; Kurt Plankl; Jovi Tenev


Les références

‘The team is very interested in learning the details of our business and structure, making them more effective in reacting quickly to our needs.’

‘Gerald Morrissey has worked with us for years as maritime finance counsel. He is intimately familiar with our business structure and reacts quickly and creatively to the demands of our business.’

‘Simply the best transportation practice in the US.’

Principaux clients

International Seaways, Inc. (NYS:INSW)


HPS Investment Partners LLC


The Mosaic Company


DNB Bank


Citigroup Global Markets Inc.


Southern Cross Group


PNC Bank, National Association


Mizuho Bank


Centerline Logistics Company


Valley National Bank


Capital One


Huntington Bank


Principaux dossiers


  • Represented International Seaways, Inc. (NYS:INSW) in various senior secured financings and marine integration activities following its merger with Diamond S Shipping (NYSE: DSSI), in which the firm acted.
  • Served as a special maritime finance counsel to HPS Investment Partners LLC (HPS), who was the lead arranger and lender on a $395.6 million senior-secured term loan and $169.4 million senior-secured delayed draw term loan used to finance the acquisition of Seacor Holdings by American Industrial Partners (AIP).
  • Represented Centerline Logistics in connection with a $425 million refinancing of its outstanding debt.

Norton Rose Fulbright

Considered a ‘go-to firm’ for clients seeking a full-service maritime practice, Norton Rose Fulbright represents US and foreign banks in complex multi-jurisdictional shipping transactions, including M&A, structured financing and charter-party negotiations. Recent expansion into representing non-traditional sources of ship financing, including funds and issuers in capital markets transactions, reflects the team’s ability to respond to the evolving shipping landscape. The practice is spearheaded by New York-based Brian Devine, representing financial institutions and borrowers in finance and security arrangements, M&A and insolvency matters. Devine also boasts a global practice, with expertise in Marshall Islands and Liberian law, and regularly consults on international maritime transactions. Counsel Kassandra Savicki offers ‘great knowledge and availability’, handling a wide range of maritime financing matters, notably vessel acquisitions and sales, M&A and joint venture structuring. In Houston, Josh Agrons specializes in secured and unsecured multi-currency credit facilities, debt restructurings and high yield notes offerings, whilst New York-based Julie Pateman Ward has extensive experience handling maritime disputes and corporate restructurings.

Responsables de la pratique:

Brian Devine


Autres avocats clés:

Kassandra Savicki; Josh Agrons; Julie Pateman Ward


Les références

‘Strong competence in the actual legal issues needed to serve us.’

‘Brian Devine and Kassandra Savicki: great knowledge and availability.’

‘The team are very user friendly and can meet tight deadlines.’

Principaux clients

ABN AMRO


Credit Agricole


National Australia Bank Limited


Citibank, N.A.


Altera Infrastructure L.P.


MOL


Principaux dossiers


Reed Smith LLP

The team at Reed Smith LLP leverages a vast global network and strong expertise in shipping finance, restructuring and maritime bankruptcy, to represent clients in a range of complex, cross-border transactions. The team has recently expanded its focus on US Jones Act matters, advising publicly-listed companies, investors and vessel owners and operators engaged in US coastwise trades in major transactions. Han Deng is highly regarded for a strong domestic and cross-border practice, representing leading financial institutions, owners, lessors and operators in connection with debt finance transactions and other commercial shipping transactions. Robert Lustrin heads the firm’s shipping capital markets practice, harnessing deep experience acting in high profile shipping transactions, including IPOs and bond offerings. Lustrin’s practice also extends to representing private equity investors in high value underwritten public resales of shares in US-listed shipping companies. Promoted to partner in January 2025, Alice Colarossi is recommended for strong expertise in Jones Act matters, spanning US ownership rules to coastwise trade restrictions on vessel operations. All attorneys listed are based in the New York City office.

Responsables de la pratique:

Richard Hakes


Autres avocats clés:

Han Deng; Robert Lustrin; Alice Colarossi


Principaux dossiers


Vedder Price

The global transportation finance team at Vedder Price has extensive expertise in the full gamut of finance transactions concerning maritime and offshore assets, including cargo vessels, offshore construction and oil exploration vessels, ferries, barges and terminal facilities. The team is well-equipped to represent clients in international transactions, with qualifications to practice in the US, England and Wales, Australia and the Marshall Islands.  John Imhof Jr harnesses over three decades of experience advising leading banks, hedge funds, private equity funds and ship owners in domestic and cross-border ship financing. Washington DC-based Anthony Renzi advises shipping, energy and offshore sector clients in public and private equity and debt offerings, M&A and corporate restructurings.  Hoyoon Nam represents banks, investment funds and corporate borrowers in financing and restructuring transactions, as well leveraging extensive experience in asset finance matters and lending transactions in the maritime industry. Associate John Geager is a key contact for large-scale vessel financings and refinancings, advising on aspects of US, Marshall Islands, Liberian and Vanuatu law. All attorneys listed are based in the firm’s New York office unless otherwise mentioned.

Responsables de la pratique:

Geoffrey R. Kass


Autres avocats clés:

John Imhof Jr; Hoyoon Nam; John Geager; Anthony Renzi


Principaux clients

AMSC ASA


BW Group


Constellation Oil Services S.A.


First-Citizens Bank & Trust Company


Hafnia Limited


HSBC Bank USA, National Association


Maritime Partners, LLC


OIM Ltd.


Stonebriar Commercial Finance, LLC


Villa Vie Residences Incorporated


Windstar Cruises, LLC


Principaux dossiers


Vinson & Elkins LLP

The maritime and offshore practice group at Vinson & Elkins LLP represents a range of clients in high value transactions across the shipping and offshore energy industries, including M&A, joint ventures and the financing of vessels and other marine assets. The team has notable experience in transactions relating to the trading, transport and export of crude oil, LNG and dry-bulk commodities, as well as advising on one of the first floating liquefied natural gas (FLNG) facilities. Collaborating with the firm’s renewable and clean energy project lawyers, the team is well-equipped to advise developers and investors on vessel and port issues that arise in offshore wind projects, notably concerning the Jones Act. John Michael leads the practice from Houston, harnessing experience in admiralty litigation alongside a strong transactional practice, to represent clients in cross-border and domestic maritime and energy transactions and regulatory counseling concerning Jones Act compliance.

Responsables de la pratique:

John Michael


Principaux dossiers


Winston & Strawn LLP

The team at Winston & Strawn LLP combines strong litigation and regulatory practice with broad experience in shipping finance deals, representing both domestic and international entities in various vessel-related transactions. The team leverages extensive experience in Jones Act matters, notably financing and foreign investments in Jones Act vessels and companies, as well as offering a dedicated project finance team to handle complex maritime deals and projects. In Washington DC, Charlie Papavizas chairs the firm’s marine and admiralty practice, representing leading US and foreign vessel owners and operators, private equity, commercial banks and other financial institutions. A significant mandate involves advising Maersk Offshore Wind in a joint venture with Edison Chouest Offshore for the construction and operation of a windfarm feeder concept, including Jones Act-compliant tugs and barges, to be delivered in 2026. Bryant Gardner handles maritime government contract negotiations and disputes, alongside US flag program and Jones Act compliance matters.

Responsables de la pratique:

Charlie Papavizas


Autres avocats clés:

Bryant Gardner


Principaux clients

Bay-Houston Towing Company


Liberty Green Logistics LLC


Maersk Offshore Wind


Nauticus Robotics, Inc.


Oaktree Capital


Principaux dossiers


  • Advising Maersk Offshore Wind with respect to its joint venture with Edison Chouest Offshore (ECO) for the construction and operation of a windfarm feeder concept, which includes two Jones Act-compliant tugs and two barges to be delivered in 2026.
  • Represented Nauticus Robotics, Inc., a developer of autonomous vehicles and robots for data collection and intervention services for offshore industries, in connection with the announced acquisition of 3D at Depth, Inc. a global leader in commercial subsea laser LiDAR (Light Detection and Range) inspection and data services, for approximately US$34M in stock.
  • Represented Barclays Capital, Inc., the initial purchaser of US$110M of tax-exempt bonds (including US$42.6M of forward delivery bonds) and the institutional investors that purchased US$77M of privately placed taxable bonds issued by the Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority.