Team size: 3 – but soon expanding with 2 more

What are the key projects that you have been involved in over the past 12 months?

VARD started 2024 after the highest monthly order intake in history, with contracts of eight billion NOK secured during December 2023. With 2024 confirming a positive breeze into a growing offshore energy segment, my team’s key priority last year was leading negotiations with customers investing in the renewable market. We negotiated close to 20 new shipbuilding contracts during 2024 – all regulating some of the world’s most advanced, customised vessels. My colleagues Anne May Slinning and Camilla Gjørtz were of fundamental importance in this period.

The financial framework within this market varies from traditional oil and gas. My team played a pivotal role in aiming to strike the balance between risks and opportunities by fully understanding the legal challenges involved and implementing customised securities together with colleagues from other internal functions. We succeeded with value-added, strategic guidance by spending considerable time learning new customers, new suppliers, new financing opportunities and not least the innovative environmentally friendly products VARD developed – and how these ties together.

In a less established market, we also saw customers wishing to secure vessels without contracts with end-customers. A typical feature was a demand for options for potentially ordering more vessels in the future. My team led all negotiations of such options to find mechanisms to balance the risks for the yard – as these options effectively mean that the yard was asked to reserve its valuable construction slots for potential future projects.

Have you had any experiences during your career as a lawyer that stand out as particularly unique or interesting?

As cliche as it sounds, the shift from law firm to working in-house in VARD at the time it happened and the next years that followed. It gave extraordinary perspective on the strategic use of legal framework as a tool in crises to improve business results. Because right after taking the role in VARD, the oil and gas market collapsed, and years of challenging processes followed, such as workforce downsising, closing down yards, financial distress, customers and suppliers going bankrupt – all with limited support from authorities. Pandemic and global military instability followed. As a legal advisor during such demanding years, it was key to think outside the box, handle unforeseen situations with other (and less) tools than planned for, while fostering high integrity and trust.

Thanks to an innovative and flexible industry with patient stakeholders, Norwegian shipbuilding is finally in process of becoming healthy again. What I experienced as a close advisor to top management during this downturn has become a unique advantage when the market returns. Going forward, and hopefully in hindsight, it has made my team ready for handling the shifting conditions which are part of our industry.

What do you think are the most important attributes for a modern in-house counsel to possess?

Speed is the new currency. Information overload, economy, politics, legal requirements and production are developing fast. You must be able to adapt legal guidance to changing conditions. Both to understand the risk involved in your business, to ensure your advice is not outdated and to stay relevant.

And you must be proactive. I feel strongly about meeting people, asking questions, paying attention, building relationships, instead of waiting for work in office. It makes it easier to stay updated and understand where to optimise work, but it also builds important trust.