We are recognised experts in the negotiation of shipbuilding contracts. Our experience covers nearly all types of vessels, from standard bulk carriers to the most sophisticated offshore vessels. We have assisted clients constructing vessels worldwide in all major shipbuilding centres, and have particular expertise in China and Korea.
We have significant experience in offshore construction contracts, principally for floating equipment such as drilling and production units and vessels, and an international reputation for our work in this field. We also understand the particular dynamics of the offshore drilling market, particularly the construction of newbuilding drilling rigs and drillships.
We provide all necessary assistance from our London office, but we also regularly accompany clients to shipyards worldwide to provide on-site assistance to the client’s negotiating team. We focus on helping every client to achieve a contract which works for them, the shipyard, and crucially, any financing bank which may be involved. We make sure that the client’s pre-delivery payments to the shipyard are properly secured by appropriate and bankable refund security.
Our deep understanding of shipbuilding markets and trends, coupled with an unparalleled knowledge of shipbuilding contract law, enables us to ensure that our clients’ contracts are negotiated and concluded at minimal cost, within tight deadlines and on the basis of a realistic and balanced allocation of the commercial and technical risks inherent in newbuilding and conversion projects. Our approach is constructive and realistic, and our lawyers are first class negotiators who understand our clients’ newbuilding and conversion objectives and the commercial and market framework in which these need to be achieved.