Shipping finance in Greece

Norton Rose Fulbright

Norton Rose Fulbright offers a standout practice, handling the full range of shipping finance matters for a mix of local and international clients. With broad geographical coverage, the firm is equipped to handle cross-border matters involving Germany, Switzerland, China, Korea, France, Australia, Singapore, Belgium and the United Kingdom. Its expertise encompasses competition issues, IPOs, maritime insurance and matters surrounding ports, infrastructure and energy. Recent highlights include its advice to Deutsche Bank and KfW in relation to the financing of a private shipping group with the intention of refinancing 15 tankers and dry bulk carriers, amounting to $250m. The practice is led by Athens and Monaco-based Dimitri Sofianopoulos. Yianni Cheilas, who divides his time between the Athens and London offices, is also a key contact.

Practice head(s):

Dimitri Sofianopoulos

Other key lawyers:

Yianni Cheilas; Vassili Koroxenidis; Evi Platsidaki

Key clients

Alpha Bank A.E.


Piraeus Bank A.E.

ING Bank N.V.

HSBC Bank plc


Nordea Bank Finland plc

National Bank of Greece S.A.

Eurobank Ergasias S.A.

Credit Suisse AG


Skandinaviska Enskilda Bank (AB)

Bank of America Merill Lynch

Amsterdam Trade Bank N.V.

National Australia Bank

Korean Development Bank

Fortress Credit Advisors LLC

LMZ Shipping S.A.

Safe Bulkers Inc.

Fomentos Armadora S.A.

Equinox Maritime Ltd.

Latsco Shipping Limited

Latsco LNG LLC

Costamare Inc.

Watson Farley & Williams – Greek Branch

Watson Farley & Williams – Greek Branch has a sizeable department dedicated to providing a full-service maritime practice and offering specialist advice in ship financing matters. Its highly regarded team maintains a busy workload, and is on the panel of several major companies. Among its notable work highlights is its advice to Danaos Corporation on the $1.25bn refinancing for the majority of the group’s outstanding senior secured indebtedness. The practice is led by George Paleokrassas, who has a breadth of experience advising in the restructuring of loan transactions and transactions involving distressed assets regarding shipbuilding projects. Christina Giagka is a key contact at senior associate level.

Practice head(s):

George Paleokrassas

Other key lawyers:

Alexandros Damianidis; Alexia Hatzimichalis; Vassiliki Georgopoulos; Alexandra Michalopoulos; Marsila Karpida; Dimitris Karamacheras; Georgia Asimakopoulos; Christina Giagka; Christina Economides


‘Very good knowledge and practice of the legal profession. Possess a commercial acumen and treats all matters in an utmost professional manner.’

‘Reliable; proactive; provides solutions; prevents hiccups. In addition they are discreet which we as their clients and our clients highly appreciate and expect. They develop excellent rapport with clients and instill confidence. Alexandra Michalopoulos, Dimitris Karamacheras Christina Giagka and paralegal Elein Skala stand out for their qualities and services.’

‘The team never loses sight of the commercial background of a transaction and provides viable options which facilitate a compromise and agreement of the contracting parties.’

‘Alexia Hatzimichalis and Karolina Zachou are very knowledgeable and hard working lawyers. The will go the extra mile and provide excellent services.’

‘Great legal knowledge and always willing to find a solution so that the transaction actually progresses.’

‘WFW is a client orientated, result driven team, with high expertise on the maritime law and up-to-date information on all regulations of their practice. They deliver on time and always assist towards smooth completion of all transactions.’

‘George Paleokrassas is a leading figure in maritime law, with exceptional knowledge of the sector and commercial thinking.’

‘George Paleokrassas: Hands on approach, very knowledgeable and backed by a wealth of experience. Christina Economides: Very experienced, highly skillful, always available and solution oriented.’

Key clients

Danaos Corporation


Australis Maritime Limited

ING Bank N.V.

BNP Paribas

Piraeus Bank



Dorian LPG Ltd

United Overseas Group Ltd (UOG)


Deutsche Bank AG

DNB Bank

Star Bulk Carriers Corp

Work highlights

  • Advised United Overseas Group Ltd (UOG) on the acquisition of United Arab Chemical Carriers Limited (UACC).
  • Advised Dorian on two debt financings: a $155.8m refinancing with a new $25m revolver and a $71.5m sale leaseback transaction.
  • Advised Danaos Corporation on the $1.25bn refinancing of the substantial majority of the group’s outstanding senior secured indebtedness.

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

Constant & Constant (the Maritime Division of TLT in Greece) is a well-recognised firm in the shipping market, known for its specialism in maritime law, regularly advising on an array of matters, including asset finance, shipbuilding contracts, bareboat charters, commercial cooperation agreements, workouts and enforcement proceedings. The practice is led by Jeremy Watson; he has particular expertise in the negotiation of long-term charters, leasing agreements, joint ventures for shipping companies, and due diligence. Stelios Andreiotis is also noted.

Practice head(s):

Jeremy Watson

Other key lawyers:

Stelios Andreiotis


‘TLT is an established firm with long shipping experience and tradition. They have a good team in Greece.’

‘The Maritime Division of TLT in Greece is led by a very experienced partner, very competent and well connected in the industry.’

‘The team are very good in drafting comprehensive and detailed loan and security documentation in ship financing transactions of all types, each document consistent with the other documents in the same transaction.’

‘Jeremy Watson and Stelios Andriotis are fast and efficient in delivering their work, always available to respond to any request. They are punctual and the cooperation with them is always smooth and effective.’

‘Constant & Constant (TLT) in Piraeus is a boutique law practice which specializes in ship finance acting principally for lenders. They offer a high level of partner contact with an efficient streamlined process, making them more than equal to the larger firms.’

‘Jeremy Watson’s knowledge and in-depth understanding of finance and the particular legal issues associated with shipping is encyclopedic. Jeremy is a superb legal draftsman ensuring that the commercial deal reached between the parties is clearly and accurately reflected in a manner which reduces time wasted in unnecessary negotiation.’

‘The team has a good insight of the sector and its updates, maintains a good cooperation with its clients, supporting them in all aspects until completion of the project.’

‘Jeremy Watson is very knowledgeable, responsive and thorough. Stelios Andriotis is extremely diligent.’

Key clients


Alpha Bank AE

Credit Suisse AG

Eurobank SA

National Bank of Greece SA

Piraeus Bank SA

Bank of Cyprus Public Company Limited

AstroBank Public Company Limited

Nordea Bank AB

Punjab National Bank International Limited

Bank of India

Hill Dickinson LLP

Hill Dickinson LLP fields a dedicated and experienced team, which acts for a range of ship owners and borrowers, corporates, international banks, private equity funds and financial institutions. Recent highlights include providing advice to various Greek companies and groups, in addition to those in Dubai, Singapore, Hong Kong and Switzerland, on the sale and purchase of individual ships and fleets. The practice is led by Jasel Chauhan, who is well known for his experience in ship finance and shipbuilding contracts. The team was bolstered at associate level with the arrival of Constantinos Karachalios in May 2021, and legal director Anthony Paizes also provides key support.

Practice head(s):

Jasel Chauhan

Other key lawyers:

Anthony Paizes; Vanessa Tzoannos; Constantinos Carachalios; Eleni Baxivanou


‘The team at Hill Dickinson is one of the strongest and most diverse teams in Greece. Diverse in capabilities and qualifications, it is also a model for diversity and inclusiveness. They seem a genuinely happy and cohesive team.’

‘Jasel Chauhan is a standout leader. In his short time as head of office in Greece, he has expanded the team offering and taken them into a different league. In my opinion, Jasel is the leading ship sale and purchase lawyer in Greece. As well as his S&P capabilities he is the go to lawyer for complex borrower-led financings and corporate transactions. Anthony Paizes and Vanessa Tzoannos are also notable practitioners.’

‘The practice led by Jasel Chauhan is very user friendly and practical. The display the necessary sense of urgency when required but have a way of getting things done in a calm and controlled manner.’

‘Hill Dickinson never fails to impress and we have always been able to rely on them for prompt, practical and precise advice. Their team has expertise across a wide range of areas of practice and approaches matters with a refreshingly commercial outlook.’

The vast majority of our legal challenges have an international element. Over the past few years we have made ample use of Hill Dickinson’s international offices. The team in Greece is adept at pairing us up with specialised advisors in their international offices and working seamlessly to deliver results.’

‘Timon Karamanos; Eminently approachable, superbly knowledgeable. His advice is sharply focused and realistic and he is impressively commercial in his approach.’

‘Very prompt and responsive.’

‘Attention to detail and meticulous process.’

Key clients

National Bank of Greece SA

Piraeus Bank SA

Eurobank SA

Euroxx Securities S A


Ince is well regarded for its shipping practice, where it has an experienced team with a strong focus on ship, offshore and yacht finance. It further strengthened its offering with several recent hires, including new partner Konstantinos Mexias and associate Fenia Apalaki from Watson Farley & Williams LLP, associate Anna-Maria Matsa from Theo V. Sioufas & Co. Law Offices and associate Ioanna Mitsaki, who joined from the firm’s London office. The practice is led by Robin Parry, and Ronan Le Dû is also a key contact.

Practice head(s):

Robin Parry

Other key lawyers:

Ronan Le Dû; Konstantinos Mexias; Konstantinos Mexias; Fenia Apalaki; Anna-Maria Matsa; Ioanna Mitsaki


‘Ince as a global firm does possess a very significant depth of knowledge and skills. They are very specialized in various shipping transactions.’

‘Mr Ronan Le Du is very reliable. He has a very good level of knowledge while at the same time he is also aware of the commercial substance of the transactions.’

‘INCE Greece has a strong team of Partners and Associates that performs very well and within pre-agreed deadlines.’

‘Team provides high engagement in all transactions and excellent quality in difficult cases.’

‘Robin Parry has great insight in the market and excellent knowledge and experience of the practice.’

‘Very commercial and personal approach.’

‘Robin Parry is a first class lawyer, very knowledgeable, thinks on his feet, is proactive and provides a very good service.’

‘Konstantinos Mexias is a key individual for us, whose high quality work, efficiency and practical approach to problem solving are an asset. He stands out for delivering excellent results on every case he is handling and overall his services are of high value compared to the amounts billed.’

Work highlights

  • Advised National Bank of Greece in relation to a $43m loan agreement to entities in the Navios Maritime Partners L.P. group for the refinancing of existing indebtedness secured on six vessels.
  • Advised Credit Agricole Corporate and Investment Bank on a $33m loan facility to a major Greek shipowner.


Sarantitis has significant expertise within ship and yacht finance, regularly advising both domestic and international shipping companies, Greek financial institutions and maritime service providers. Its expertise is evidenced through its recent advice to Piraeus Bank in relation to the financing of an Athens-based group in the context of an acquisition of a second-hand bulk carrier. Eleni Papakostas leads the practice.

Practice head(s):

Eleni Papakosta

Other key lawyers:

Alexandros Metaxas; George Dedes; Leonidas Panagopoulos; Angeliki Agrimaki


‘The firm has attorneys experienced in legal aspects of shipping matters, including sale and purchase of ships, charter party agreements, and corporate formation and record keeping. The firm expeditiously cooperates and coordinates with flag state authorities and corporate and ship registries, obtains legalization and apostille of documents, and smoothly navigates the at-times labyrinthian procedures and requirements of Hellenic government agencies.’

‘The personal and friendly nature with which the company’s staff, including Eleni Papakostas, Angeliki Agrimaki, interacts with us, is equally appreciated along with their expertise.’

‘Experience; commercial sense; fast turnover.’

‘They are professional, they know our needs, they know when to raise the red flag and they know when to push back the other side.’

Key clients

Chronos Shipping Co. Ltd.

Zim Hellas S.A.

Cuma Shipmanagement Ltd.

Piraeus Bank S.A.

Niovis Shipping Co. S.A.

Neptune Dry Holding Company

Union of Shipping Agents of Regular International Lines

Tri Bulk Shipping Ltd.

Work highlights

  • Advised Piraeus Bank on the financing of several shipping groups for the acquisition of vessels and in the refinancing of such acquisitions.
  • Advised Chronos Shipping Group on legal issues relating to the purchase of a second-hand vessel and her registration under the Panama flag and the sale of a number of the group’s vessels to various international shipping companies.
  • Advised Niovis Shipping Group on legal issues relating to the purchase of new building vessels and partially financing their acquisitions.