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  • Devandran Karunakaran

    Devandran Karunakaran
    Managing Partner, Singapore

    Maritime, Energy & infrastructure, Regulatory solutions, Corporate

    T. +65 6538 6660
    D. +65 6305 6966
    devandrankarunakaran@incegd.com

Dev is Managing Partner and Head of the firm’s Singapore office. Prior to moving to Singapore, he practised in London and specialises in cross-border ship finance, covering asset, project and corporate finance transactions, including in the LNG and offshore sectors.

Dev represents an international portfolio of shipping financiers, including equity funds, as well as ship owners across Asia and Europe.

In addition to asset, project and corporate finance transactions, he has considerable experience of advising ship finance banks and owners in relation to complex restructuring work, including standstill arrangements.

Dev regularly represent clients in the offshore LNG sector and this includes LNG project financing and FSRU projects. Dev also advises on the more commercial side of shipping matters such as chartering arrangements, sale & purchase transactions and joint venture arrangements.


Highlight Matters

  • Advising a Japanese shipowner, Mitsui O.S.K. Lines on the chartering and finance arrangements relating to the supply of a floating storage and regasification unit (FSRU) to the Hong Kong Offshore LNG terminal project.
  • Advising a Norwegian bank on four syndicated facilities in excess of US$1 billion including junior loans, amendments to swap arrangements, restructuring of the security package and complex inter-creditor issues.
  • Advised SMBC, the agent bank in a syndicate of 6 banks/financial institutions including OCBC, CIC, DBS, Société Générale and the financial institution Clifford Capital on secured loan facilities for the purchase of two LNG newbuildings by special purchase vehicles owned by BW Pavilion (a joint venture between BW Maritime and Pavilion Energy) ꟷ Marine Money Deal of the Year, 2016 - Project Finance East.
  • Advising National Australia Bank Limited on a syndicated loan facility for the purpose of financing 4 tankers owned by the leasing arm of Bank of Communications and chartered to a Canadian operator.
  • Advising a group of banks in connection with the project financing of four LNG carriers to be owned by Korean owners and chartered to an oil major on long-term charters.
  • Advising MISC on a project financing of two LNGCs on long term charter to Petronas.
  • Advising Masterbulk on its financings arrangements with a syndicate led by Nordea.
  • Advising DVB on a finance restructuring involving a HK dry bulk owner.
  • Advising Peter Dӧhle on a joint venture with Reederei Nord involving pooling arrangements.
  • Advising ING Bank NV in relation to possible security structures in the financing of installation of scrubbers on vessels in respect of the developments surrounding the IMO 2020 regulations which takes effect on 1 January 2020.

Legal Directory Quotes

“The ‘approachable’ Devandran Karunakaran is also recommended.” Legal 500 Asia Pacific

Professional Associations & Memberships

  • Law Society of England and Wales 



Expertise:
Maritime, Energy & infrastructure, Regulatory solutions, Corporate

Qualified:
2006

Accolades:
Legal 500, 2018 - Asia Pacific - Shipping

Education (University):
University of Leicester

Languages:
English