The commodities market is global and fast-moving, and the contracts, regulatory challenges, and disputes it generates are among the most complex in international trade. From cargo quality issues and delivery defaults to derivatives agreements and the shift toward electronic trading platforms, we can advise on any scenario.
COMMODITIES
Our commodities practice spans both contentious and advisory work, supporting global traders from US fertilizer giants to Swiss oil traders and Singapore gas buyers. We handle complex contracts, regulatory challenges, and disputes across the supply chain, from cargo quality issues to breaches of sale contracts and delivery defaults. Our expertise includes derivatives trading agreements (ISDAs), trading desk setups for futures and emissions allowances, and the shift toward electronic trading platforms. We are able to advise on English, American, Russian, and EU law, allowing us to navigate the evolving geopolitical landscape, helping clients mitigate risks and seize opportunities in global trade.
Commodities - Disputes
We handle high-stakes disputes across the commodities sector, from cargo quality claims and breaches of sale contracts to delivery defaults and sanctions-related enforcement. Our team is experienced in resolving disputes through litigation and arbitration under ICC, LCIA, GAFTA, FOSFA, LMAA, and other leading rules. With a deep understanding of global trade complexities, we help clients protect their interests and navigate cross-border conflicts efficiently.
- US arbitration of a dispute under a long-term agreement for the sale and purchase of LNG relating to a continuous failure to deliver cargoes.
- Litigating across multiple jurisdictions the unlawful removal of oil products from a terminal in Europe.
- Acting for an international trader in an ICC arbitration against a seller of coal concerning shipments from US to India.
- Acting in Commercial Court litigation and ancillary attachment proceedings as well as a parallel ICC arbitration in relation to the foreign law illegality defence in connection with a letter of credit.
- Acting for a Swiss trading house in English Commercial Court litigation in relation to injunctions arising out of the enforcement of a sale contract in West Africa.
- Advising an LNG trading house in relation to force majeure provisions under an MSPA/CN.
- Acting for a Swiss trading house in English Commercial Court litigation in relation to the sale and purchase of oil and the interaction with various wash out agreements, plus related enforcement proceedings in Poland.
- Acting in disputes relating to master sale and purchase agreements, and spot sale and purchase agreements for oils, seeds, fats and grains including on the basis of GAFTA and FOSFA standard contract terms.
- Acting for claimant buyers of fertilizer in an ICDR arbitration of a dispute arising under a sale and purchase agreement concerning a force majeure declaration following purported operational shut down at a plant.
- Pursuing a Section 67 Arbitration Act challenge to the validity of a GAFTA arbitration award, on behalf of an Australian trader, in relation to disputed deliveries of grain.
- Acting for sellers of fertilizer, as claimant, in numerous ad hoc arbitrations in relation to claims totalling more than USD 54 m arising from wide ranging payment defaults.
Commodities - ADVISORY, FINANCE & TRANSACTIONAL
We advise commodities traders on structuring contracts, securing financing, and managing risk in volatile markets. Our expertise includes drafting offtake agreements, designing offshore security structures, and navigating foreign exchange controls. We also advise on trading desks, ISDAs, and the transition to digital trade systems. With a multi-jurisdictional approach, we help clients structure transactions that comply with English, American, Russian, and EU legal frameworks.
- Advised a Swiss oil trader on a $620m structured finance commodity offtake with a West African oil major and its various subsidiaries. This deal was subject to parliamentary approval and tested the limits of certain local statutes enacted to protect the national oil revenues involving complex assumptions of liabilities for debts incurred by subsidiaries, oil trading issues and local law security arrangements. We were instructed in the US and UK to restructure the various limbs of the transaction and negotiate various offtake agreements, sale and purchase agreements and financing structures.
- Advising on a Brazilian stockpile financing concerning the purchase of iron ore for subsequent export to global markets, with sellers subject to an insolvency process. Drafting and negotiating a prepaid offtake agreement, fiduciary lien over the stockpile and services agreement for the inland transportation of the stockpile prior to export from Brazil.
- Representing a major European energy producer and supplier, providing a legal opinion in the context of a long-term LNG sale and purchase agreement and a related Consent to Assignment Agreement.
- Representing a major Swiss international energy trading company in the negotiation of a tri-partite sub-storage services agreement for the sale of oil products into Brazil. The agreement contemplated three parties to the contract: our client, a Brazilian terminal or terminal operator, and an end buyer of oil products.
- Designing a bespoke lending and security arrangement for a bridging loan in relation to a Middle Eastern refinery, including title issues with respect to commodities stored in tanks.
- Representing a metals trader in structuring a bauxite offtake deal for the purchase of iron ore, including structuring and drafting associated security documentation.
- Acting for Swiss banks on security structure and registrations in relation to commodities financing deals.
- Advising a Belgian commodities company on structuring purchases within sanctions wind-down periods.
- Extensive experience throughout the fertilizer trading industry involving all contracting phases from negotiation and drafting through urgent advisory work to address developing situations.
- Providing metals trading sanctions advice in relation to pan-European steel trading.
