Shipping, Aviation & Transport

Shipping is one of our growing practice areas upon which we have amassed considerable domestic and international experience. Our firm has qualified shipping lawyers who specialize in shipping litigation and finance, including “dry” litigation and arbitration for owners, P&I and defence clubs, charterers, cargo underwriters and bunker suppliers, shipbuilding disputes and shipping finance acting for banks and other financial institutions and structuring shipping finance and related collateral.  

We have advised on many aspects of Trade and Transport of goods by sea, road and air, such as sale/purchase, charter, cargo insurance, recovery, arrest, execution, cargo and freight claims, maritime liens, maritime litigation and arbitration. The Firm has also considerable experience and expertise in advising on the relevant Romanian statutory and regulatory framework.

Our Aviation & Aerospace expertise ranges from international aspects of Aviation Law to specific advice on the Romanian aviation legal regime. Our firm has acted in a wide range of matters from purchase of aircraft, cross-border leasing, advising on major loan agreements, lease and mortgage of aircraft and the registration, enforcement and securitization of aircrafts. Our experience has extended from advising on the privatization of the national airline carrier to the incorporation of special corporate vehicles for airline services.

A selection of our recent instructions include advising:

  •  Holdingmaatschappij Damen B.V., a member of Damen Shipyards Group, on a financing transaction involving ING Bank N.V., ABN Amro Bank N.V., Cooperatieve Centrale Raiffeissen-Boerenleenbank B.A. and several other banks, in connection with a credit facility project of approximately EUR 700,000,000 for the construction of vessels.
  • Caterpillar Financial Services US in connection with a financing project for the construction of vessels in Romania. We reviewed the loan agreements between Caterpillar Financial Services US and the owner of the vessels, drafted the mortgage agreements over the vessels under construction and conducted all registration formalities thereof with the local port authorities.
  • Banca Comerciala Romana (B.C.R.) and Anglo-Romanian Bank in drafting a maritime mortgage in connection with a loan facility of USD 115,000,000 granted for the purchase of six oil drilling rigs and providing a legal opinion on the validity and enforceability of the maritime mortgage.
  • Companhia Vale do Rio Doce (CVRD), the largest mining company in the Americas and one of the four largest companies in the global metals & mining industry, on various proceedings, including drafting cargo agent and port operator services agreements regarding a major import, stockpiling and transit operation of Brazilian iron ore through Constanta Port.
  • The Ministry of Economy on the privatisation transaction of shipyard Santierul Naval Mangalia S.A., the sole Romanian producer of military vessels, initiated by the Romanian Government.
  • Alenia Aeronautica, the leading Italian aeronautical manufacturer, in its proposed bid for  Avioane Craiova. The legal services covered the extensive due diligence process, followed by assistance in submitting the bid.
  • Retained for drafting the due diligence on the Romanian state owned shipping companies Petromin S.A., CNM Romline S.A. and CNM Navrom S.A., in view of their privatisation by the Romanian Privatisation Authority.
  • Constanta Shipyard in connection with the sale agreement of “Mineral Sakura” (the biggest vessel ever built in Romania).
  • Petromin S.A., one of the largest shipping companies in Romania, in connection with the joint-venture agreements concluded with international shipping companies from Greece and Norway, as well as drafting various commercial contracts, drafting a legal opinion on various shipping issues, such as ship arrest and ship claims.
  • The National Oil Company Petrom S.A. on a shipping agreement for the transport of imported oil. We assisted in the negotiations of various types of charters (voyage charter party, time charter party, shipment charter, management agreement, bareboat charter).
  • Romanel S.A. in the acquisition of the controlling stake in Tulcea Shipyard (Romania).
  • P&O Group, a world leader in cargo services and port management, in the proposed construction of a port for loading, unloading and transport of container freight in Constanta.
  • Petromidia Refinery S.A., a well-known Romanian refinery, in relation to various legal issues in respect of operations in the Black Sea Harbour.
  • GE Capital Aviation Services for performing a legal survey on Romanian legislation and judicial practice, including advice on maritime transport of containers and other equipment and ship arrest matters.
  • Wikborg, Rein & Co, Karmsund Maritime Services (Norway) in various legal proceedings involving Romanian subcontractors, with a view to prevent the latter from seizing a fishing vessel owned by Karmsund Maritime Services (Norway) while located in Romanian waters, based on a proceeds claim related to contracted shipbuilding services.
  • Petromin S.A., the largest shipping company of Romania, in commercial and shipping litigation resulting in the arrest of a ship to secure interlocutory relief and contractual performance.
  • Elbit Systems Ltd. with respect to a significant agreement concluded with C.N. Romtehnica S.A. and the Romanian Ministry of Defence for supplying advanced aviation systems.
  • GE Commercial Aviation Services Limited on various aviation matters in connection with regulatory issues ranging from aircrafts leasing agreements concluded with several business partners.
  • The Romanian Ministry of Transport with respect to the restructuring process of the National Air Company Tarom S.A., as a first step towards privatisation.
  • Advising on a leasing agreement concluded between Airwork Holdings Limited and Blue Air, a Romanian low-cost charter airline, in connection with a Boeing 737-377 aircraft.
  • Advising on leasing agreements concluded between Ansett Worldwide Aviation Services and Blue Air, a Romanian low-cost charter airline, in relation to a Boeing 737-300 aircraft and a Boeing 737-500 aircraft.
  • Sparbank Vest A.S. with respect to mortgage agreements having as object two Saab 340B aircrafts and to registration thereof with the Romanian Aircraft Registry. Our legal assistance included without limitation the issuance of a legal opinion on the effectiveness of the securities structure.
  • Abela Rocas (currently, Alpha Rocas) the main in-flight caterer in Romania, with regard to corporate/commercial and aviation related matters, further to the company’s aviation and in-flight catering activities in Romania, as well as advising on the company’s corporate relation with Romanian aviation companies.
  • CIT Aerospace International on various aviation matters in connection with regulatory issues concerning aircrafts leasing agreements concluded with its business partners.
  • Advising on a leasing agreement concluded between FNBC Leasing Corporation and Blue Air, a Romanian low-cost charter airline, in relation to a Boeing 737-400 aircraft.
  • General Electric Company on a joint venture agreement with Turbomecanica S.A., a significant player of the jet propulsion industry.
  • Eurocopter with respect to a contemplated equity joint venture agreement with IAR Brasov (the Romanian helicopter producer) having as object the manufacturing of helicopters and helicopters equipment.
  • The National Air Company Tarom S.A. with regard to a leasing agreement with Maersk Air A/S having as object a Boeing 737-5L9 aircraft.
  • The National Air Company Tarom S.A. on an aircraft lease agreement concluded between Air Lingus Limited, Skywell Limited and Tarom S.A. in respect of one Boeing 737-548 aircraft.
  • Advising on a financing agreement between the National Air Company Tarom S.A. and Zerlina Ltd. for the acquisition by Zerlina Ltd. of an ATR 42-500 aircraft from G.I.E. Avions de Transport Régional and the leasing of the same by Zerlina Ltd. to Tarom S.A..
  • Ansett Worldwide Aviation Services on a leasing agreement with the National Air Company Tarom S.A. for the financing of a Boeing 737-300 aircraft, as well as in connection with a mortgage over the aircraft and its registration with the Romanian authorities.
  • Natwest, a British Bank, in connection with a mortgage over a Boeing 737-500 aircraft and registration thereof with the Romanian Aircraft Registry.
  • Elbit System Ltd. with regard to the proposed joint venture with the National Air Company Tarom S.A. for cargo operations.
  • Assisting a domestic aircraft operator with regard to an acquisition transaction with Tiriac Air having as object several airplanes and related aviation business. We advised on the transaction documentation, including the sale purchase agreement and the related financing agreements and assisted the client during the negotiations and the closing of the transaction.
  • Advising an international aircraft operator with respect to all relevant legal issues in connection with the placing of an aircraft for servicing with a Romanian company for repair and maintenance works.
  • IRS Leasing Ltd. on a EUR 19,000,000 transaction concluded with a consortium including Meva S.A. and the National Company for Freight Railway Transport “CFR Marfa” S.A. further to a sale-purchase agreement on the modernization of 500 trucks.
  • DHL International Romania, the Romanian subsidiary of the global market leader in international express, air and ocean freight, overland transport and logistics, in connection with various transport related matters, including drafting transport agreements, as well as legal assistance in related litigation arisen from the current mail express activities.
  • Constanta South Container Terminal, local subsidiary of Dubai Ports World, one of the world’s largest container port operators, in negotiation and conclusion of various commercial agreements in relation to the acquisition of equipment for loading and unloading containers, negotiation with Constanta Port Authority (Compania Nationala Administratia Porturilor Maritime Constanta) with respect to a multi-million U.S.$ rent and operation agreement for several areas in the recently built Black Sea Container Terminal.
  • Petrotrans S.A., the largest state owned company carrying out the transportation of derivate oil products by pipes and railway, in drafting the relevant documents and assisting in the negotiations for its restructuring, in view of privatisation.
  • Alstom Transport S.A. in connection with drafting and negotiating several commercial agreements concluded with various business partners, including railway vehicles maintenance and other transportation issues.
  • The State Ownership Fund and the Romanian Ministry of Transport in connection with complex maritime and transport legal matters for restructuring and privatisation of the Romanian Black Sea Ports Constanta, Midia and Mangalia.
  • Alstom Transport S.A., the Romanian subsidiary of a world leader in power and transport activities on a PPP agreement with Metrorex S.A., the Romanian subway operator, regarding the maintenance and modernization of locomotives and wagons.