Seward & Kissel is a worldwide leader in maritime finance law. Our structured finance and capital markets transactions in the shipping, offshore and logistics arenas have earned us an international reputation for excellence and innovation. This leading role extends to restructuring where, working alongside our shipping/maritime-focused colleagues, the bankruptcy and reorganization team members have played leading roles in many of the major out-of-court workouts, reorganizations, refinancings and liquidations in the industry. Our experience in all aspects of the shipping industry–from the representation of lenders and owners in secured lending transactions to the representation of issuers and investment bankers in public and private debt and equity offerings to the representation of this diverse clientele in complex restructurings–provides us with unique perspective and insight into the shipping industry and markets and the needs of our clients, which we believe no other firm can duplicate. The industry continues to face many difficulties, and our deeply experienced team is ready to assist in any situation.

Representative Matters

Representative examples of distressed situations we have worked on include:

  • Toisa Limited (secured lenders)
  • Ultrapetrol (Bahamas) Limited (company side)
  • International Shipholding Corporation (lending agent and DIP Lender)
  • Hanjin Shipping Co. (vessel owner)
  • Primorsk International Shipping Limited (potential buyer)
  • Nautilus Holdings (lending agent/syndicate)
  • TMT Shipholding Group (committee)
  • Eagle Bulk Shipping (company side)
  • Overseas Shipping Group (agent and lender under secured credit facility)
  • Seanergy Maritime Holdings (company side)
  • TBS International (agent and lender under secured credit facility)
  • General Maritime (company side)
  • U.S. Shipping Partners (I) (trustee; committee)
  • U.S. Shipping Partners (II) (refinancing lender (2nd lien))
  • Omega Navigation (company side)
  • Marco Polo Steamship (ship owners)
  • Korea Line (agent and lender under secured credit facility)
  • Eastwind/Probulk (agent and lender under secured credit facility; bunker vendor)
  • Peregrine (equity investor)
  • STX-Pan Ocean (lender)
  • Deep Marine (secured lender)
  • American Commercial Barge Lines (purchaser)
  • Golden Ocean (company side)