Watson Farley & Williams (Gaikokuho Kyodo Jigyo Horitsu Jimusho), the firm's Japanese law practice based in Tokyo, has received recognition at the Japan Law Firm Awards 2026 for its shipping and maritime work. The recognition reflects the firm's sustained strength in ship finance and asset leasing within one of the world's most important maritime finance hubs.
The firm's Tokyo office, located in the Tokiwabashi Tower in Otemachi, Chiyoda-ku, has built a dedicated asset and structured finance practice that is particularly well-equipped to advise on aviation and maritime finance matters. Its transport sector expertise encompasses a broad range of export, debt and leasing finance transactions, with clients including financiers, lessors and operators of vessels and aircraft.
Key to the firm's maritime recognition is its depth of partner-level expertise in ship finance. Paul Coggins, a partner at the Tokyo office, is described by Chambers as "widely respected as a pre-eminent figure in ship finance," holding a Band 1 ranking for International Asset Finance in Japan for eight consecutive years. Simon Collins, another Tokyo partner, is ranked Band 2 and advises major lessors on sale and leaseback arrangements and lease transactions such as JOL and JOLCO involving vessels, aircraft and container boxes. Keisuke Imon is also noted as a leading name in asset finance, frequently sought out by major banks for advice on JOLCOs and vessel financings.
The firm's recent work highlights in the maritime and asset finance space include representing FPG as lessor on a JOLCO of USD 3.4 billion in aggregate of container vessels built in China and Korea for Seaspan Corporation. The team also represented a client as lender in connection with a JOLCO for container boxes leased to CMA CGM. These transactions demonstrate the firm's capability in large-scale, cross-border vessel and container financing structures.
The timing of this recognition is significant for WFW's Japan practice, as it comes amid heightened volatility in global shipping markets. With the Hormuz crisis driving shipping costs above 30% of barrel value and Black Sea shipping risks escalating, demand for sophisticated legal advice on vessel financing, leasing structures and risk allocation has intensified. The firm's recognised expertise positions it well to advise clients navigating these uncertain conditions.
WFW's global maritime practice is a core pillar of the firm, with sector coverage spanning cruise, containers and logistics, LNG and offshore, commercial shipping, and ports and terminals. The Tokyo office's recognition at the Japan Law Firm Awards 2026 reinforces the firm's ability to connect its international maritime finance capabilities with Japanese clients and cross-border transactions involving Japanese lessors, banks and operators.
For the Indian shipping and maritime community, the recognition is relevant as Japanese lessors and financial institutions are significant participants in vessel financing structures used by Indian shipowners and operators. WFW's strength in JOL and JOLCO transactions—structures commonly used in Japanese-backed vessel finance—makes its Tokyo practice a potential counterparty in cross-border maritime transactions involving Indian parties.
The award also comes as Japan's legal market continues to recognise specialised maritime expertise, with several firms competing for recognition in the shipping and maritime category. WFW's placement among the recognised firms underscores its focused asset finance and transport sector strategy in Japan, distinguishing it from full-service domestic firms that may treat maritime as a peripheral practice area.