Justin Boyd is the Managing Partner of Mercatis Law Asia, based in Singapore, and a Partner of Mercatis Law Europe in London. 

With over three decades of deep legal and regulatory experience spanning the commodities sector and the commodities markets across the UK, Europe, Africa, the Middle East, and Asia, Justin offers unparalleled insight and strategic counsel to clients navigating this complex global landscape.

Based in Singapore since 2008, and following roles in London and the U.S., Justin’s viewpoint is informed by extensive experience gained in private practice in London and Singapore, and in-house at leading financial institutions, commodity trading houses, and an oil & gas producer. This background provides him with a deep understanding of the commercial realities and legal intricacies faced by participants across the entire commodities value chain.

Prior to his partnership roles at Mercatis Law, Justin was a partner at a prominent international trade and shipping law firm in London. He also acts (through Mercatis Law) as the external General Counsel for a global commodity trading house, further underscoring his deep involvement in the commodities market. His previous in-house roles at GC-level and senior management positions have equipped him with invaluable commercial acumen and a client-centric approach.

Outside Mercatis Law, Justin is the dedicated Vice-Chairman of Riding for the Disabled Singapore, a registered charity providing vital equine-assisted therapy.

Expertise: Transactional, Advisory & Regulatory in Commodities Sector and Markets

Justin’s non-contentious practice encompasses a comprehensive range of legal services within the commodities sector (exploration, production, processing, and transportation of commodities) and the commodities market (trading and financing of these assets).

His expertise includes:

  • Upstream Exploration: Advising on energy and minerals exploration and appraisal projects.
  • Trading & Origination: Drafting and negotiating sales, supply, offtake, storage, and transportation agreements for a diverse spectrum of commodities.
  • Financing & Capital Raising: Structuring and advising on commodity finance, project finance, structured finance, and capital markets transactions.
  • Derivatives & Structured Products: Providing expert counsel on OTC and on-exchange derivatives for hedging, trading, and investment strategies.
  • Project Development & Investments: Guiding clients on the development of energy and minerals projects and strategic investments within the sector.
  • Regulatory & Corporate Matters: Ensuring compliance with UK financial services regulations relating to commodities activities, advising on corporate governance, joint ventures, and all aspects of corporate law relevant to the commodities sector.

Select Mandates

Justin’s extensive track record includes advising on the following significant mandates:

  • Energy (Oil, Gas, LNG, Power, Coal):
    • Advised a private E&P company on the renegotiation of its oil & gas production sharing rights.
    • Counselled a listed corporate on international oil & gas exploration, appraisal, development, and production activities.
    • Advised an energy company on various international energy development projects.
    • Represented a trading company in the renegotiation and refinancing of offshore natural gas transportation and processing agreements.
    • Acted for a trading house on long-term gas purchase agreements.
    • Advised a State-owned oil & gas enterprise on establishing its global oil/products hedging and risk management program.
    • Counselled a listed energy supply company on regulatory matters relating to carbon credits and renewable energy certificates.
    • Advised an Asian coal producer on its long-term full requirements coal sales contract with a trading house.
  • Trading & Financing:
    • Advised a trading house on various commodity financing structures, including offtake prepayment arrangements.
    • Provided advised a commodity trading house on trading, origination, and financing activities across the UK, Scandinavia, Europe and Asia, covering oil/products, gas, LNG, power, weather, metals, coal, freight, iron ore, emissions, and agricultural products.
    • Advised a trading house on the establishment and operational aspects of a global bilateral trading facility.
    • Represented an Asian coal producer on the restructuring of its debt and equity.
    • Represented a trading house in structured transactions involving oil, gas, and metals with producers, refiners, and off-takers.
    • Conducted a global commodities legal and regulatory due diligence program across sixty jurisdictions for a bank.
    • Advised a bank on its equity/debt participation in a UK 1,000 MW power project development.
    • Acted for a corporate finance house on a structured finance offering for vessel owners.
    • Advised a precious metals trading company on a private capital raise.
    • Represented a private metals trading company on numerous physical/financial bullion (gold and silver) and other precious metals transactions – standard to complex structures.
    • Advised a private metals trading company on structured gold leases and USD/XAU loans for high-net-worth (HNW) investors.
    • Counselled a private metals trading company on its structured gold deposit products and hybrid gold lease/USD loan facilities for HNW investors.
    • Advised a private metals trading company on a JV with an African sovereign fund for local gold mine offtake and export sales to the Middle East.
    • Represented a private metals trading company in a JV with a U.S. gold lessor to market lease and other services to jewellery manufacturers in the Middle East and South Asia.
    • Provided corporate governance advice to a commodities trading company.
    • Advised an oil trading company on the impact of UK financial services regulations (FMSA, MIFID, REMIT) concerning physical and financial trading in commodities.
  • Metals & Mining:
    • Advised a private corporate on the acquisition of mining assets.
    • Counselled a private gold and copper company on the development of its mining activities and securing seed funding, including through SAFE agreements.
    • Represented a private metals trading company on gold mine off-take, transportation, insurance, storage, refining, and sales aspects of unrefined/refined gold arrangements across Africa, the Middle East, and Asia.
    • Advised a private precious metals company on offering structured gold deposit products to HNW clients in Asia.
  • Shipping & Industrials:
    •  Advised a private company on the establishing a commercial shipbuilding business.
    •  Represented a shipping company on raising finance in the capital markets.
    •  Counselled a private group on its global industrial participation/offset business.
    •  Advised a private company on establishing a new export finance business In Asia and the Middle East.

Career Background

Justin’s extensive career within the commodities sector and markets includes significant legal and regulatory roles at:

  •  Mercatis Law (2018 to present)
  •  Delta Beta Consultancy (2015 – 2018)
  •  Standard Chartered Bank, Singapore (2008 – 2015)
  •  Lehman Brothers, London (2006 – 2008)
  •  Holman Fenwick, London (2004 – 2006)
  •  Hartree Partners, London (2001 – 2004)
  •  Enron Capital & Trade Resources, London & Houston (1992 – 2001)
  •  Fina, London (1991 – 1992)

This demonstrates a deep and continuously evolving involvement with the legal and regulatory complexities of the commodities sector and markets.

Credentials – Professional Admissions and Qualifications

  •  LLB (Hons) – 1996
  •  Postgraduate LPC – 1997 
  •  Solicitor, England & Wales – 1989
  •  Registered Foreign Lawyer, Singapore – 2018