What are the most significant cases or transactions that you have been involved in over the past year?

In 2024, the EPS legal team has been involved in a range of case and transactions. On the litigation side, we have two cases that are going to trial in the English High Court, one involving a pollution claim against charterers and the other involving a claim against charters under the provisions of a sanctions clause. On the financing side, we have completed more than $9 billion of financing transactions in connection with our vessel new build program. On the corporate side, we have signed and will be completing the acquisition of a ship finance business from a PE firm, and have completed several investments and JVs with start-ups and equipment suppliers in the maritime space. On the technical side, we continue to invest in green technology and have negotiated contracts for the purchase and installation of carbon capture technology, rigid sale technology and prototype Ammonia engines. We have also been heavily involved in a tax restructuring of the group to meet the requirements of the new OECD BEPs tax framework that has come into effect.

Based on your experience, what is the key to collaborating successfully with business partners?

Successful collaboration with business partners hinges on several key factors. It requires (a) clear, transparent and continuous communication to build trust and ensure that we are all on the same page and ; (b) an alignment of interests or objectives to ensure that we are working towards the same goals; (c) clearly roles and responsibilities to ensure accountability and avoid misunderstandings; (d) an ability to adapt to changing circumstances and navigate challenges together; (e) a mechanism to prevent or resolve disagreements; and (f) lastly, it is important to celebrate successes or build on failures. By focusing on these areas, partners can create a strong foundation for successful collaboration.

Which political, economic or regulatory changes have impacted your work the most in the past year?

Over the past year, our work has been significantly affected by various political, economic, and regulatory changes in the shipping industry.

As far as geopolitical events are concerned, first there was the Russia-Ukraine war and then the Israel-Hamas conflict, that resulted in trade route disruptions/ diversions, increased insurance costs, disputes with counter parties. Two of our vessels were targeted directly by the Houth revels and/or Iran. We have actively avoided the Red Sea and the Persian Gulf.

The shipping industry has been subject and has had to adapt to significantly stricter tax and environmental regulations. Navigating these regulations has required investments in new vessels and technologies, amendments to contracts, upgrading of systems and changes in our operating procedures. The tax regulatory landscape has also changed through the advent of the OECD BEPs framework that is being adopted by most developed countries around the world (including Singapore), requiring a change in structure and governance. The regulatory burden of complying with sanctions has increased significantly requiring more people, systems and processes to manage the risk.

How do you motivate and manage the other members of your legal team well?

Motivating and managing team members effectively requires continuous work and range of strategies personalised to each individual members needs and team dynamics. Firstly, I find that setting clear objectives and individual roles allows each member of the team to understands their contribution to the company, it fosters accountability and motivation. Second, the team needs to be provided with all the tools, training, mentorship and resources they need to be able to succeed. Third, I encourage autonomy and open communication so that the team can manage their own work and time independently, are empowered to make decisions and feel comfortable sharing ideas, concerns, and feedback. Fourth, it is very important to recognise achievement and celebrate successes, however small they may be. This boosts morale and encourage continued effort. And lastly, it is important to cultivate a supportive and positive atmosphere, which promotes work-life balance and participating in a range of social, sporting and other events in the company.