Watson Farley & Williams (“WFW”) advised long-standing client Höegh LNG Holdings Ltd. (“Höegh LNG”) on an investment forming part of a combined commitment of up to US$182m from Stolt-Nielsen Ltd. (“Stolt-Nielsen”), Golar LNG Ltd. (“Golar LNG”) and Höegh LNG in Avenir LNG Limited (“Avenir”) for the...
Shipping Law News
Retrofits – the approach to innovative technology and new equipment
A ship’s life cycle ends with it being dismantled and recycled. Up to 95 % of a ship’s weight is made up of steel, which can be sold and reused. A modern recycling process, which also includes the recycling of other materials, can be very efficient and is a positive step towards a greener shipping...
Interlegal cancelled unlawful State Ecological Inspection Order
A foreign company-shipowner filed a request to Interlegal on defending rights and interests under the dispute with State Ecological Inspection on bringing vessel master to administrative liability. Vessel master was brought to administrative liability allegedly due to contamination of inland waters...
Green funding for shipping in the Norwegian Capital Markets
The Norwegian capital markets have been and continue to be attractive and a widely used sources of equity and debt funding for shipping and offshore companies from around the globe. This is to a large extent due to the high industry knowledge among the participants in the market and their ability...
https://www.hellenicshippingnews.com/green-funding-for-shipping-in-the-norwegian-capital-markets/
Ballast water – managing risks of zoological pollution
Zoological pollution is becoming an increasing concern for commercial shipping worldwide. The threat of invasive species spreading through the intake and discharge of ballast water has resulted in the IMO adopting the International Convention for the Control and Management of Ships’ Ballast Water...
https://www.hellenicshippingnews.com/ballast-water-managing-risks-of-zoological-pollution/
Duties Owed by Mortgagees of Ships When Exercising Their “power of Sale”
In the recent case of Close Bothers v (1) AIS (Marine) 2 Limited and (2) Paul Chandler, the English Admiralty Court has reviewed and provided a helpful summary of a mortgagee’s duties under English law on sale of a ship. The decision is a useful reminder that a mortgagee will need to consider more...
WFW advises Teekay Tankers on sale-leaseback of six Aframax tankers
Watson Farley & Williams (“WFW”) has advised long-standing client Teekay Tankers Ltd. (”Teekay Tankers”) on the sale-and-leaseback for six Aframax tankers, improving its net liquidity position by US$60m after the repayment of outstanding related debt. As part of the financing, one of a range of...
Big data analytics and autonomous vessels – when will legislation catch up?
In a survey conducted by Reed Smith in the first half of 2018, industry participants predicted that big data analytics will be one of the most significant drivers of change in the shipping industry over the next five years. In addition, for the same five-year period, the survey revealed that the...