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

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.