The firm’s shipping and international trade practice covers the maritime industry and the broader trade commodities and energy sectors. Whether wet or dry, contentious or non-contentious, corporate or regulatory matters, our aim is always to provide excellent, efficient and timely services to our shipping clients.
The in-depth industry knowledge and specialist shipping expertise of our team enables us to advise on various shipping related transactions relating to charterparties, bills of lading, corporate structures for ship ownership and joint ventures, flag and operational registration, employment, port & logistics, ship finance and lease, sale and purchase, crude oil and commodities trading, trade finance, marine insurance, marine casualties, pollution, piracy, ship arrest and release, Nigerian Cabotage trade and Local Content Act.
Banwo & Ighodalo represents shipowners, charterers, shipyards, insurers, protection and indemnity (P&I) clubs, financiers, brokers, offshore and marine companies, port and terminal operators/promoters, petroleum marketing and distribution companies.
Marine Casualty Emergency Response out-of-office hotline: Call +234 (0) 706 4379 421
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Acting as Nigerian Legal Counsel to Shelf Drilling International Holdings Limited, a company sponsored by Castle Harlan Inc., Lime Rock Partners, and CHAMP Private Equity, on Nigerian aspects of its worldwide acquisition of thirty-eight (38) shallow water drilling rigs, valued at approximately US$ 1.05 billion, from Transocean Limited.
Acted for a Lloyd’s syndicate of reinsurers, American insurers (“Insurers”) and the owners of the liftboat MAKO, on legal issues related to the total loss of the MAKO, as a result of a fire incidence on a nearby rig, KS ENDEAVOUR, at a contract location in Nigeria; the owner’s rights for compensation claim(s) and negotiating the Insurers claim for damages to the MAKO.
Acted for a Cypriot shipowning company in connection with the release of two (2) of its bulk carrier vessels as result of six (6) lawsuits instituted in two (2) divisions of the Federal High Court of Nigeria.
Advised the London P&I Club in relation to a dispute regarding a rice cargo exported to Nigeria on behalf of two (2) major indigenous trading companies.
Currently advising Stanbic IBTC Bank Plc. in connection with a multi-million dollar senior secured asset backed term loan to be advanced to an indigenous company for the purpose of refinancing the acquisition of a Platform Supply Vessel and financing the acquisition of an Anchor Handling Tug Supply vessel.
Currently advising Stanbic IBTC Bank Plc. in connection with a multi-million dollar senior secured asset backed term loan to be advanced to an indigenous company for the purpose of refinancing a facility obtained from another Nigerian commercial bank for the acquisition of three (3) tugboats and three (3) crew boats.
Advised Arco Marine and Oilfield Services Limited in relation to its building of two (2) fast crew/utility boats at a Singapore shipyard.