The Maritime Group at Carter Ledyard & Milburn LLP has the experience and depth to fully service the needs of the maritime industry. For over a century the Firm has represented shipping companies, oil companies, container lessors, marine insurance underwriters, P&I and FD&D clubs, and financial institutions in a variety of maritime matters throughout the United States and throughout the world. The Groups capabilities include:
Mergers & Acquisitions
Recent case include:
Maritime Finance
The Firm has broad experience in vessel finance, from ship mortgage transactions to complex cross-border sale and leaseback transactions. The Firm has particular expertise in advising on operation and financing of U.S. and foreign flag ships, drilling rigs and other marine equipment including the use of flags of convenience such as Liberia, The Marshall Islands Panama and the Bahamas and bareboat charter registries. The Firm has acted for lenders and owners in connection with new building projects in foreign countries and is experienced in the structuring of these transactions to provide maximum security in the event of disputes.
In February 2003, the domestic container lines operation of CSX was acquired by an investment vehicle formed by Caryle Group and renamed Horizon Lines LLC. The operation consisted of, among other things, seventeen U.S. flag container vessels. A lender group provided a $200,000,000 credit facility to finance the acquisition. Carter Ledyard was engaged by the lender group’s special counsel Cravath Swaine & Moore to act as special maritime counsel in the transaction. Carter Ledyard reviewed and advised on the structure of the transaction to comply with the Jones Act and related U.S. maritime law, as well as setting up a mortgage trust and preparing and recording the ship mortgage and vessel financing documentation to secure the credit facility.
Carter Ledyard represented Seastreak America Inc., the U.S. ferry subsidiary of Sea Containers Ltd., in connection with the continued expansion of its ferry operations here through the lease financing of two new fast ferries.
As leaders in the field, attorneys in the Group lecture and publish regularly in on developments in ship finance and speak at major ship finance conferences in the U.S. and abroad.
Antitrust and Competition Law
The Firm advises companies in the maritime industry concerning compliance with U.S. antitrust laws, including the design and implementation of antitrust compliance programs. It recently assisted a client with an internal investigation of possible collusive conduct and successfully guided the client through negotiations with U.S. enforcement authorities to avoid fines and other sanctions.
Environmental
The Maritime Group is prepared to respond to maritime environmental casualties wherever they may occur. We advise on property damage, cargo loss, and claims for natural resource and other environmental damage. We also assist management clients in the maritime, petroleum and chemical industries in preparing operational and contingency plans.
Charter Parties
An important part of our maritime practice is our expertise in all aspects of charter parties. Our partners offer clients timely advice on contracts of affreightment, time, voyage, and bareboat charters, and handle charter party disputes in court and in arbitration. We understand that due to the global nature of the chartering business immediate advice may be needed and we are prepared to respond around the clock to achieve our clients’ commercial and legal objectives.
Maritime Litigation and Arbitration
Our maritime litigation practice includes the arrest of vessels, mortgage foreclosures, enforcement of liens, casualty and cargo litigation, maritime attachments, maritime insurance coverage disputes, charter party disputes, and presenting cases at arbitration proceedings.
Recent cases include:
Enforcement, Bankruptcy & Workouts
Our partners are experienced in loan restructurings and workouts and the representation of lenders in bankruptcy proceedings. We also represent lenders in bankruptcy and international enforcement actions and in mortgage foreclosure proceedings in the U.S. and in remote jurisdictions. One of the most notable recent assignments handled by the Maritime Group involved proceedings against 48 ships in the Adriatic Tankers fleet, including foreclosures and arrests in over 20 foreign jurisdictions.
Carter Ledyard represented a bidder in an auction conducted by the U.S. Bankruptcy Court of the river cruise vessels DELTA QUEEN and MISSISSIPPI QUEEN.
Carter Ledyard instituted a vessel foreclosure action in St. Louis on President Casinos gambling ships on behalf of the ships’ mortgagee.
Regulatory and Legislative Services
Our Washington offices has assisted clients with various Washington based maritime issues such as:
Maritime Regulatory and Legislative Issues. Advising clients on pending and expected Coast Guard, EPA, and other agency rulemakings. Our staff monitors hearings on key legislation, and prepares clients to give Congressional testimony.
Maritime Administration. Assisting clients with vessel transfers, U.S. Citizenship determination issues, Title XI loan guarantee applications, Operating Differential Subsidies (ODS), and war risk insurance in conjunction with our other offices.
Federal Maritime Commission (FMC) & Surface Transportation Board (STB). Advising clients on tariff, licensing, and certificates of financial responsibility for carriage of passengers.
Vessel Documentation. Assisting clients with filings of ship financing documents as well as vessel registration or transfer.