Rising Stars

Shipping finance in Greece

Norton Rose Fulbright

Norton Rose Fulbright‘s Athens office combines deep industry knowledge with expertise across a broad array of financing arrangements for an impressive roster of banking (commercial banks and ECAs) and operator/owner clients, from both a new money and refinancing perspective. The team is also well-placed to advise on UK law (the prominent jurisdiction governing the finance documents) in part due to the expertise of dual Greek and UK-qualified partner Yianni Cheilas, and can also effectively leverage the firm’s market-leading London office. Dual-qualified Evi Platsidaki handles a range of financing transactions in the shipping/offshore space, including large syndicated facilities, leasing transactions and LNG facilities.

Practice head(s):

Yianni Cheilas

Other key lawyers:

Evi Platsidaki

Key clients

Alpha Bank


Piraeus Bank

ING Bank


DVB Bank

Nordea Bank Finland plc

National Bank of Greece

Eurobank Ergasias

Credit Suisse


Bank of America Merill Lynch

Amsterdam Trade Bank

National Australia Bank

Korean Development Bank

Fortress Credit Advisors LLC

LMZ Shipping S.A.

Fomentos Armadora S.A.

Equinox Maritime Ltd.

Latsco Shipping Limited

Latsco LNG LLC

Costamare Inc.

Avin International SA

Empire Bulkers Limited

Hellenic Carriers Corporation S.A.

Arcadia Shipmanagement S.A.

Atlas Maritime Inc.

Safe Bulkers Inc.

Alassia NewShips Management Inc.

Cromar Insurance Brokers Ltd

Safety Management Overseas AS

International Trade SA

Skandinaviska Enskilda Bank (AB)

AB Maritime Inc.

Technomar Shipping Inc

Goldenport Shipmanagement Ltd.

Cymona Maritime Holdings Inc.

Byzantine Maritime Corp.

Stephenson Harwood

With a long track record drafting loan documentation under English law, the ‘very experienced’ team at Stephenson Harwood is a popular choice among lenders where it provides ‘cost-effective and commercial‘ advice across both commoditised mandates and deals involving highly complex and bespoke structures. Nigel Bowen-Morrisunderstands how to balance the local needs of his clients to the more corporate international finance scene’ and is a favourite among both creditors and debtors in relation to sophisticated cross-border loans. Chris Vartzis has ‘impeccable knowledge and experience in the shipping industry’ and provides very solutions-oriented advice, as a result of his willingness to act, in effect, as ‘a broker between lenders and borrowers, thereby facilitating the loan documentation process’. Vartzis co-heads a team alongside Bowen-Morris that is staffed by a ‘combination of ambitious young professionals and seasoned experts’, and is also able to leverage the expertise of lawyers based out of other key international offices including London.


Practice head(s):

Nigel Bowen-Morris; Chris Vartzis

Other key lawyers:

Georgios Kalpakidis; Stynos Antoniades; Christina Voulgaraki


‘The very experienced team is able to advise any financial institution on shipping finance matters not only on plain vanilla transactions but also in more complex structures. There is always a high level of attention to detail and proper due diligence in every transaction.’

‘The team has been together for many years and has gained not only huge experience but they work as a team/one person thus the whole process of documentation is fast and cost-effective and commercial, without jeopardizing the quality of service and work done.’

‘The team has a very strong grasp on the market, with excellent knowledge in their respective fields and a very extensive network. ’

Key clients


Work highlights

  • Acted for ABN Amro in connection with an amendment and restatement agreement to a secured term loan facility extended to Star Bulk Carriers Corp, one of the largest shipping companies listed on NASDAQ.

Watson Farley & Williams – Greek Branch

The ‘efficient and knowledgeable’ team at Watson Farley & Williams – Greek Branch provides an ‘outstanding and commercial service‘ to financiers and borrowers across a broad spectrum of English and Greek-law governed new money and refinancing transactions, including bilateral and syndicated bank loans and bond facilities, as well as sustainable financing work. In addition, the team regularly advises on M&A and commercial matters, including advice on shipbuilding contracts and work for banks as purchasers of shipping loan portfolios. Alexandros Damianidis is well regarded in the market with a versatile offering that includes advice on vessel acquisition financing, debt refinancing and the provision of corporate loans to shipping companies. At a more junior level, Christina Economides, who has ‘excellent industry knowledge’, was recently promoted to partner in acknowledgement of her strong reputation the market among banks, funds, trading houses and shipowning companies across a range of financing transactions. Head of the Athens office Alexia Hatzimichalis also regularly handles shipbuilding contracts and sustainable financing agreements, offering additional experience in sale and leaseback transactions. Konstantinos Mexias‘ arrival in October 2023 from the now defunct Ince & Co. also enhances the team. Christina Giagka departed the firm for an in-house position in February 2024.


Practice head(s):

Alexia Hatzimichalis

Other key lawyers:

Vassiliki Georgopoulos; Alexandros Damianidis; Christina Giagka; Christina Economides; Konstantinos Mexias


The professional, efficient and knowledgeable team provides an outstanding and commercial service.

‘Christina Giagka provides support, commitment and understanding for clients and provides solutions oriented advice.’ 

‘Christina Economides has excellent industry knowledge.’

Key clients

Global Ship Lease

CIT Bank



Piraeus Bank




Danish Ship Finance A/S

Dorian LPG

Work highlights

  • Advised Danish Ship Finance on a $100m term loan facility granted to ship-owning companies of the Diana Shipping Inc. Group  for the refinancing of nine vessels with a maturity date in April 2028.
  • Advised Piraeus Bank on the acquisition of a circa $265m portfolio of 26 bilateral loan facilities from HSBC Bank. This transaction resulted from HSBC’s decision to sell its Greek shipping portfolio, of which Piraeus Bank acquired the highest number of loans.
  • Advised Alpha Bank and Export Finance Norway on an export credit bond loan facility for the financing of three newbuilding AERO type high-speed catamaran passenger vessels built by Norway-based Brødrene Aa for Attica Next Generation Highspeed a subsidiary of Attica Holdings.

Constant & Constant (the Maritime Division of TLT in Greece)

'Very well-connected in the market', specialist shipping firm Constant & Constant (the Maritime Division of TLT in Greece) provides a 'results-oriented' offering to a lender-focused client base across a range of new money and refinancing transactions. The team is appreciated for its 'co-operative approach', and its willingness to 'find solutions and compromises when possible'. Dual English and Greek law qualified team head Jeremy Watson has vast experience in the field, regularly advising lenders on facilities to effect vessel purchases, the restructuring of syndicated loans and newbuilding contracts, as well as handling the arrest of mortgaged vessels. Stelios Andreiotis is also well regarded by banks across a broad range of mandates, including acquisition finance, restructuring matters and enforcement procedures.

Practice head(s):

Jeremy Watson

Other key lawyers:

Stelios Andreiotis


‘The very experienced and highly collaborative team is very well connected in the market.’

‘It is a professional and results-oriented firm.’

‘The lawyers within the team are highly qualified, but also co-operative, accessible and available, understanding and always willing to find solutions and compromises when possible.’


Key clients








Work highlights

Hill Dickinson LLP

Drawing upon ‘excellent knowledge’ of the shipping market, Hill Dickinson LLP has a ‘strong understanding of the clients’ commercial needs and provides practical advice’ to ship owners/borrowers, large corporates, banks, alternative lenders and private equity funds across a wide spectrum of transactional work. Appreciated for his ‘strong commercial knowledge and legal acumen’, team head Jasel Chauhan leads from the front and as well as his strong borrower side finance offering, is also highly skilled at advising on ship sale and purchase and shipbuilding matters. With a ‘deep understanding across all facets of the shipping industry’, Vanessa Tzoannos provides ‘very insightful and business oriented’ advice, including within the mercantile and yachting sectors, where her offshore law capability (Marshall Islands and Liberia) adds value to clients. Anthony Paizes also has strong offshore credentials and provides ‘high-quality advice on banking and corporate issues’ within the maritime sector. Senior associate Kostas Karachalios is also recommended.

Practice head(s):

Jasel Chauhan

Other key lawyers:

Vanessa Tzoannos; Anthony Paizes; Kostas Karachalios


‘It is a great team with excellent knowledge and understanding of shipping finance. They are very responsive and always make themselves available.’

‘They are quick, responsive, understand the client’s commercial needs and provide practical advice.’

Jasel Chauhan’s strong commercial knowledge and legal acumen makes him standout. He is an expert on shipbuilding and sale and purchase.’

Key clients

Tsavliris Salvage Group

Five Oceans Salvage


Navios Maritime Holdings

Omicron Ship Management

Louis PLC

Hellenic Dynamics plc

Eurobank S.A, Alpha Bank S.A., National Bank of Greece S.A. and Piraeus Bank SA

Piraeus Bank S.A. and Euroxx Securities S.A.

YieldStreet Management, LLC

Samos Steamship Company

Fearnley Securities AS

Diana Shipping Inc.

Teodor Shipping LLC

Work highlights

  • Advised owners as a special counsel for matters of Marshall Islands law in relation to a $650m offering of senior secured notes.
  • Advising OM Maritime in relation to the corporate and financing arrangements for the acquisition of a number of containership vessels.

Timagenis Law Firm

Timagenis Law Firm provides ‘high-quality, sophisticated and innovative legal services’ to shipping companies, banks and funds across a range of complex domestic and international transactions. The firm’s versatility across financial products, including as it relates bank loans and the capital markets, is a compelling proposition to international borrowers with a nexus to Greece. In this regard, ‘extremely detail oriented and intelligent’ dual Greek and New York-qualified partner Christos Timagenis regularly advises Greek shipping companies seeking to raise equity and debt finance on the US capital markets. As well as her proficiency acting for lenders and borrowers in bank loan facilities in the sector, the  ‘exceptional’ Lily Politsopoulou-Timagenis provides ‘very focused and solutions-oriented advice’ on broader maritime-related corporate and commercial work, including matters relating to shipbuilding contracts and JV structuring. The ‘outstanding’ Gregory Timagenis and Yiannis Timagenis are also key contacts with significant experience and knowledge of the shipping industry.

Practice head(s):

Lily Politsopoulou-Timagenis ; Yiannis Timagenis; Christos Timagenis

Other key lawyers:

Gregory Timagenis


‘It is one of the most reputable and well-established shipping law firms in Greece. They provide high-quality, sophisticated and innovative legal services in the context of complex domestic and international transactions.’

‘Timagenis Law Firm is in my view unique among Athens-based law firms in its understanding of the public capital markets, and in particular the US capital markets, while also having the deep connections to the Greek ship owners and operators.’

Timagenis Law Firm is continuously monitoring the latest updates on all areas of their expertise. This characteristic together with their extensive experience contributes to their high level of commercial awareness.’

‘Lily Timageni provides very focused and solutions-oriented advice.’

‘Christos Timagenis stands out for his deep knowledge of shipping corporate, capital markets and taxation matters. He has good commercial awareness and a unique ability to communicate complex issues.’

‘Christos Timagenis is unique in that he practiced in New York for a number of years in a large corporate/transaction practice and continued to leverage that experience in advising primarily Greek clients that are already public in or considering the US markets. He is extremely detail oriented and intelligent, and very attentive to the matters he works on.’

‘Yiannis Timagenis is characterised by integrity and client care and enjoys the trust of many financial institutions.’

The outstanding Gregory Timagenis constantly surpasses the client’s expectations. He takes the time to listen to his clients’ concerns, addressing them with empathy and understanding. This level of care creates a strong sense of trust and confidence between him and his clients.’

Key clients

Eurobank S.A.

Toro Corp.

Diana Shipping Inc.

Dorian LPG Ltd

Technomar Shipping Inc./ Global Ship Lease Inc.

Globus Maritime Ltd.

Castor Maritime Inc.

ROKS Maritime Ltd.

Magna Marine Inc.

Metrostar Management Corp.

Queensway Navigation Co. Ltd.

Dorian LPG Management Corp./Dorian Hellas S.A.

Work highlights

PPT Legal

Combining ‘an excellent knowledge of Greek shipping law procedures’ with ‘great commercial acumen’, PPT Legal is well-positioned to advise banks, funds and shipping companies across a broad array of financing and commercial activity. Managing partner John Papapetros is well-versed at advising on large multi-jurisdictional debt financing mandates, from a both new money and refinancing perspective.  

Practice head(s):

John Papapetros

Other key lawyers:

Aleka Tatagia; Vicky Katsouli; Dimitrios Manolopoulos; Sonia Horvathova


‘The team has great commercial acumen and displays an excellent knowledge of Greek shipping law procedures.’

Key clients

Navios Maritime Holdings Inc

Navios Maritime Acquisition Corporation

Aegean Baltic Bank

Canfornav Inc. Group of Companies

Harbor Shipping and Trading

Agathonissos Finance

Work highlights

  • Represented Navios Maritime Holdings on a $550m debt financing transaction.
  • Represented Aegean Baltic Bank acting as lender, agent, arranger and security trustee in a $21m financing to two ship owning companies.
  • Represented certain ship owning companies belonging to Canfornav Group on the amendment and restatement of a $22.25m bank facility.


Combining 'a deep understanding of the law' with strong commercial sensibilities, Sarantitis provides 'comprehensive and efficient legal solutions' to a range of high-profile international and domestic shipping companies, Greek financial institutions and other maritime service providers. Team head Eleni Papakosta has 'vast experience in relation to shipping finance and banking documents', ensuring that she is a popular choice among creditors and debtors seeking or providing the financing (including syndicated, bilateral and mezzanine loan facilities) to facilitate the acquisition of vessels.

Practice head(s):

Eleni Papakosta

Other key lawyers:

George Dedes; Angeliki Agrimaki


‘The practice has extensive experience in relation to ship finance-related agreements, contracts, and mortgages. They have an excellent working relationship with counter-party law firms in Greece, which assists in achieving desired results and saving time and costs.’

‘Eleni Papakosta has vast experience in relation to shipping finance and banking documents.’

‘Angeliki Agrimaki is very responsive.’


Key clients

Chronos Shipping Co. Ltd.

Zim Integrated Shipping Services Hellas S.A.

Cuma Shipmanagement Ltd.

Piraeus Bank S.A.

W Marine Inc.

Niovis Shipping Company S.A.

Neptune Dry Holding Company

Union of Shipping Agents of Regular International Lines

Work highlights

  • Advising Piraeus Bank on the financing of several shipping groups for the acquisition of vessels and in refinancing of such acquisitions.
  • Advised W MARINE GROUP on legal issues relating to purchases of second-hand vessels and their registration under various flags, financing for their acquisitions and sales of Group’s vessels.
  • Advised NIOVIS SHIPPING CO. LTD. Group on legal issues relating to purchases of vessels and partially financing their acquisitions.