Dentons Advised Abu Dhabi Commercial Bank On AED 210 Million LPG Tanker Financing

Dentons advised Abu Dhabi Commercial Bank on AED 210 million LPG tanker financing

Dentons advised Abu Dhabi Commercial Bank (ADCB) on a senior secured financing of AED 210 million (approximately US$57.2 million) extended to ASBI Shipping, a joint venture between Al Seer Marine's ASM Nautical Holding and B International Shipping & Logistics. The seven-year facility supported ASBI Shipping's acquisition of two 22,000m³ liquified petroleum gas (LPG) tankers, each placed under a 10-year charter agreement with BGN INT DMCC.

This financing transaction marks a strategic move in the region’s specialised LPG shipping sector and represents a key expansion initiative by the borrower group.

The Dentons team was led by Nathaniel Armstrong (Partner and Managing Partner, Abu Dhabi), with support from Shaakir Daud (Senior Associate) and Najeeb Gill (Associate).

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