SUPPORT IN SHIPOWNER’S PROJECTS

KIAP team has been successfully representing the interests of a Russian shipowner for several years in sale and purchase of vessels, setting up joint ventures and raising finance. The peculiarities of these projects are determined by the specifics of maritime transport business, as well as the complex bundle of contracts regarding each vessel.

Some prominent projects:

  • ACQUISITION OF OIL TANKERS

    • The risks related to the transfer of title on sailing vessels were the main feature of the project that should be taken into account. KIAP was also challenged to mitigate possible risks associated with atypical payment terms and external financing.
      KIAP team managed to develop and implement the most acceptable and effective approach to notification of vessels movements, to negotiate a procedure for condition inspection of vessels and their equipment/accessories/materials, which did not lead to demurrage.

  • ACQUISITION OF CARGO TANKERS

    • KIAP supported the purchase of three leased cargo tankers. The complexity of the project was due to purchase structure with several stages, each depending on the actions of the parties to achieve condition precedents.
      KIAP successfully drafted the transaction documents (i.a. the agreement on basic terms and conditions, preliminary agreements, cession agreements, guarantee agreements), through which the interests of all parties were balanced and all tankers were successfully transferred into the ownership of the final purchaser.

  • FORMALISING OF RELATIONS BETWEEN THE JOINT VENTURE PARTNERS

    • The main feature that required attention was the amount of actual financing of the JV’s investment projects provided by each partner, as well as the need to fine-tune the management processes and ownership structure.
      In particular, KIAP team drafted a shareholders’ agreement that reflected not only the current state of relations between the partners, but also was tailored to settle relations during the future development of this business.

Participants:

Anton Samokhvalov, Roman
Suslov, Ekaterina Spakhova, Nikita Lutskiy, Alexander Varchuk