Global law firm Reed Smith says its work on Deutsche Bank's sale of $1bn of shipping loans has cemented its position in vessel finance.

The company worked with the German bank on its disposal to Oak Hill and Varde last month.

The team was led by London-based asset finance partner Richard Hakes, who was assisted by fellow partners Simon Hugo in London, Volker Kammel and Simon Grieser in Frankfurt, and Tilman Siebert and Thomas Gierath in Munich.