We were delighted to welcome a full house to our recent seminar, “Navigating Ship Finance: Expert Insights and Networking,” held in Hamburg. The event brought together leading voices from the maritime finance sector for a day of thought-provoking presentations, practical legal insights and dynamic discussion.
The programme featured two deep-dive presentations on current legal challenges in shipping finance:
Greenwashing
Presented by Valentina Keys
- Greenwashing is evolving and widespread: companies across sectors – especially finance, fashion and aviation – are increasingly misrepresenting their sustainability efforts to appeal to ESG-conscious stakeholders. Tactics range from vague eco-labels to misleading advertising and unverified claims.
- Regulatory scrutiny is intensifying: authorities like the UK’s CMA and EU regulators are cracking down on deceptive environmental claims. High-profile cases involving Deutsche Bank, Coca-Cola and Virgin Atlantic illustrate the growing legal and reputational risks of greenwashing.
- Banks face mounting pressure: financial institutions are under fire for overstating green credentials, with frameworks like the CSRD and SFDR demanding more transparent ESG disclosures. Misleading claims can trigger investor backlash, regulatory action and even litigation under laws like the UK’s Financial Services and Markets Act.
Asymmetrical Jurisdiction Clauses
Presented by Frederik Lorenzen
- Definition: an asymmetrical jurisdiction clause binds the borrower to a specific court (e.g. Hamburg), while allowing the lender to initiate proceedings in other jurisdictions, typically where the ship is located. This structure may facilitate enforcement in specific situations.
- Validity: according to a February 2025 ruling by the Court of Justice of the European Union, such clauses are valid only if they refer to courts in EU member states or Lugano II Convention countries. There is a risk they are invalid if referred to courts in other countries.
- Consequences: if the clause is deemed invalid, jurisdiction defaults to applicable general rules, such as the borrower’s domicile. This may be manageable if the borrower is based in Germany, but problematic if domiciled in less favourable jurisdictions.
- Practical guidance: when documenting loans, lenders need to weigh the benefits of flexible court selection against those risks.
The seminar concluded with a lively panel discussion moderated by Partner Maren Brandes, featuring:
- Tanja Georg (KfW IPEX-Bank);
- Frank Aschenbrenner (Berenberg); and
- Dr. Oliver Hermanns (Crédit Agricole CIB).
Their insights from practice sparked engaging debate and offered valuable perspectives on the future of ship finance.
If you’d like to discuss any of the topics covered or explore our work in the maritime sector, please don’t hesitate to reach out to one of our partners.
