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Walkers team advise Abu Dhabi Commercial Bank on AED 210 million LPG tanker financing

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We have acted as Cayman Islands legal counsel to Abu Dhabi Commercial Bank (ADCB) in connection with its AED 210 million secured financing for the acquisition of two LPG tankers by ASBI Shipping.

ASBI Shipping is a joint venture between Al Seer Marine's ASM Nautical Holding and B International Shipping & Logistics.

This financing of two 22,000m3 liquified petroleum gas (LPG) tankers, each deployed under a 10-year charter, marks a significant milestone in the ongoing collaboration between leading regional and international financial institutions to support important maritime infrastructure.

Our Dubai based team advised on all Cayman Islands legal aspects of the transaction, working closely alongside lead counsel Dentons. Our team was led by partner Ciaran Bohnacker, with the support of senior counsel Gareth Lond and senior associate Szymon Durlo.

Commenting on the transaction, lead partner Ciaran Bohnacker said: "It is great to have been able to support Abu Dhabi Commercial Bank on this significant transaction, supporting the borrower's expansion into this important market. We were pleased to contribute our cross-border legal expertise to help bring this deal to completion.”

We are proud to continue supporting innovative and sustainable financing structures in the maritime sector, working alongside leading financial institutions and legal advisors in the region. This transaction also follows our recent role in advising Abu Dhabi Islamic Bank PJSC (ADIB) on the $235 million syndicated ship financing to ABGC, a joint venture between Al Seer Marine and BGN.

FinanceDubai

MEDIA CONTACT

Shana Ray

Head of Business Development - Asia and Middle East

T/+852 2596 3302
M/+852 9030 6084
E/Email Shana Ray

KEY CONTACTS

Get in touch with our team

Ciaran Bohnacker
Ciaran Bohnacker

Ciaran Bohnacker

Partner

Dubai

T

+971 4 363 7901

M

+971 56 644 2032

E

Email Ciaran Bohnacker
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Gareth Lond
Gareth Lond

Gareth Lond

Senior Counsel

Dubai

T

+971 4 363 7942

M

+971 50 899 7995

E

Email Gareth Lond
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Szymon Durlo
Szymon Durlo

Szymon Durlo

Senior Associate

Dubai

T

+971 4 363 7908

M

+971 50 125 6115

E

Email Szymon Durlo
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