First, can you please give us an idea of the sort of work your team has done recently? 

One of the largest commercial banks in Germany successfully completed the sale of a €2.6bn shipping loan portfolio to an affiliate of a global alternative investment firm with assets across credit, private equity, and real estate strategies. Part of the billion-euro portfolio was Intership’s vessel mortgages. The transaction required successful transition from the ex-lender to the new lender, enabling the company to start fresh with a healthy balance sheet. This transaction led to a new refinancing arrangement with an Australian provider for our owned vessels. New third party managed vessels have been a significant challenge in the past year.  

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most? 

We live in a world where digitalisation is increasing. Work tasks that were previously done manually are now being automated. The use of digital planning and building models will also have an impact on the legal area in shipping projects. Routine tasks will be automated, and artificial intelligence will assist with the lawyer’s work, present alternative solutions based on systematic experience and provide guidance for good decision making. 

However, I do not think that the need for expertise and experience will disappear. I feel the biggest challenge going forward will be to be willing enough to keep up with technological developments. It will be important to prioritise and stay up to date and spend time making the necessary changes. I am certain that there will be major changes because of technological developments, but it is difficult to predict what these changes will be. Therefore, one must not look at changes with fear, but rather see how to make the most of them. 

What would you say are the unique qualities required to be successful as an in-house lawyer in your industry? 

To be successful as an in-house lawyer in any industry, there are several unique qualities and skills that can be beneficial. In-house lawyers need to have a solid foundation in legal knowledge and expertise. They should possess a thorough understanding of the relevant laws and regulations in their industry, as well as a broad understanding of general legal principles.  

Effective communication is also essential; lawyers must be able to communicate complex legal concepts clearly and concisely to non-legal stakeholders within the organisation. This includes written communication in the form of contracts, policies, and legal memos, as well as verbal communication in meetings, negotiations, and presentations.  

In-house lawyers often encounter complex legal issues and need to analyse situations, identify risks, and provide practical solutions. Strong problem-solving and analytical skills are necessary to navigate legal challenges effectively and make informed decisions.  

Furthermore, they work closely with various stakeholders, including executives, employees, external counsel, and regulatory bodies. Building strong relationships, collaborating effectively, and being a team player are crucial for success. This includes being approachable, responsive, and understanding the business needs of different departments.  

The legal landscape is constantly evolving, and in-house lawyers need to adapt to changing laws, regulations, and business priorities. They should be flexible and able to handle multiple projects, shifting priorities, and tight deadlines.