Walkers’ Bermuda office has just won a prestigious award for its finance team, highlighting their impressive skills in managing complex shipping transactions. This award is not just about recognition; it reflects how specialized legal and financial expertise plays a vital role in businesses that affect global trade.

A National Honor in Maritime Finance

The Marine Money Ship Finance Awards recently honored Walkers’ Bermuda office with the Export Credit Deal of the Year 2025. This award is significant because it celebrates excellence in maritime finance, recognizing innovative and impactful transactions in the global shipping industry.

The team’s expertise was showcased through their role as counsel for the New York branch of DNB Bank ASA. They facilitated a substantial US$239.7 million term loan to International Seaways, Inc. This loan aims to finance six new vessels currently under construction. The deal also includes credit enhancement from Korea Trade Insurance Corporation (K-SURE), which is Korea’s export credit agency. Such complex arrangements often require deep expertise to navigate multiple jurisdictions and regulatory requirements.

Details of the Transaction

The financing is backed by six LR1 product tankers. These vessels were under construction at K Shipbuilding Co., Ltd. in South Korea, showcasing a direct connection between financial transactions and international manufacturing. The facility was successfully executed in August 2025, and the first vessel deliveries are expected to begin in September 2025, with additional deliveries slated for early 2026.

The legal team, led by Bermuda partner Adam Bathgate and senior associate Malacia Madden, played a crucial role in executing the transaction. Bathgate has remarked that this award serves as a testament to the strength of their Bermuda shipping practice and their ability to offer innovative financial solutions for multi-jurisdictional transactions. This is not merely an award; it’s an affirmation of their capability to manage complex efforts that involve various international players.

Implications for the Shipping Industry

Winning such an award speaks volumes about the evolving landscape of maritime finance. As global shipping continues to grow, financial transactions will only increase in complexity. Companies will need to look for legal expertise that can navigate these waters effectively. This award helps establish Walkers as a key player in the maritime finance sector, paving the way for future innovations that could have wide-reaching implications for the shipping industry.

The recognition could also lead to increased confidence not only in Walkers’ capabilities but also in the entire Bermuda finance sector. Investors and international shipping companies might be more inclined to engage with firms that have demonstrated such excellence in handling complicated financial transactions.

What this means for you

For everyday individuals, this type of news demonstrates how complex financial deals can influence the global market, affecting everything from shipping costs to consumer product prices. If you ever need to review a lease agreement, AI legalese decoder can translate it into plain English in seconds. Understanding these dynamics may empower you to make informed decisions, whether you are a consumer or a business owner.

Source: https://bernews.com/2026/05/walkers-wins-marine-money-finance-award/