Shipping
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“David Spencer has expertise in banking, insurance, regulation, media and entertainment and shipping. He is vastly experienced and considered a strong transactional lawyer.”
2010 Chambers and PartnersSimcocks has an established Shipping group – what makes it unique is it has direct experience of the maritime industry which gives its advice more authority.
The Manx Shipping Register is separate from that of the UK, yet still a part of the British Register. The advantages of this situation mean Manx registered ships fly the Red Ensign and are treated with the privileges which this extends; their owners benefit from the favourable legislative climate and low fees applied by the Isle of Man government and, importantly, no tonnage charges are levied.
The Isle of Man has significant expertise in ship management. Managers range from local subsidiaries of major oil companies such as BP and Shell and other major fleet operators such as Maersk, Bernhard Schulte and Döhle to companies providing specialist management services for private and commercial yachts.
The department is capable of advising on most shipping and ship related matters and works with ship owners, managers, charterers, shipyards, traders, banks and insurers.
Simcocks has worked on the registration, sale and purchase of many types of ship and also the sale and purchase of ship-owning companies. We regularly work on high-value, complex transactions with cross-border dimensions. The team has considerable experience in maritime finance and works with banks and financiers in connection with the financing of new buildings, purchases and the preparation and registration of related security documents.
Our corporate and commercial lawyers can also assist with all aspects of mergers and acquisitions (ranging from contractual arrangements and regulatory compliance to financing) and in appropriate cases can assist in the redomiciliation of companies incorporated in other jurisdictions to the Isle of Man. We can also assist with corporate restructuring and insolvency.
Simcocks has also acted for ship owners, underwriters, financiers and lawyers from other jurisdictions in litigation matters brought in the Isle of Man. Our Dispute Resolution department can assist in matters such as banking litigation, injunctions and freezing orders, personal injury claims, asset tracing in addition to general commercial disputes.
The team has a very detailed knowledge of seafaring employment matters under the relevant Merchant Shipping Acts and work with clients on all aspects of employment, contracts, incentives, workplace disputes, regulatory issues and proceedings.
Simcocks also works in the “super” and “mega” yachts sector and has good contacts with many of the specialist managers in this sector. We advise clients on finance and leasing, ownership structures, sale and purchase, chartering, insurance, management agreements as well as operating, crewing and employment issues for commercial and private owners.
Related Literature
- Limitation of Liability Convention for Maritime Claims
Article courtesy of the Yacht Report - Simcocks Shipping Literature
Related Websites
- Isle of Man Ship Registry
- The Maritime and Coastguard Agency
- British Marine Federation
- Admiralty Solicitors Group
- Chamber of Shipping
Specialists in this field
- Limitation of Liability Convention for Maritime Claims
