Norton Rose Fulbright has advised Paris Kassidokostas-Latsis on the formation of a dry bulk joint venture with two first class global companies, to create Ivy Shipping LLC. The primary focus of Ivy Shipping LLC is to invest in supramax and panamax dry bulk carriers.

The firm also advised Ivy Shipping LLC on the acquisition of four Japanese-built supramaxes from Mitsubishi Corporation affiliates, with two ships already delivered and the remaining two ships expected to be in full service by the end of summer 2017.

The Norton Rose Fulbright team was led by the head of Greece and Monaco, Dimitri Sofianopoulos with assistance from partner Chris Randall with support from senior associate Sarah Mathers in London and partner and head of transport- US, Brian Devine, partner Mara Rogers and associate Nicholas Santangelo in New York.

Dimitri Sofianopoulos commented:

“This joint venture represents an exciting opportunity for Paris Latsis, allowing him to enter into the dry bulk carrier sector at low values and with a great pair of partners. Given the current market conditions this is evidence of Paris Latsis’ commitment to the shipping industry and his determination to forge strong business relationships with blue chip companies.”