Watson Farley & Williams

UK Court of Appeal accepts that CMA CGM Libra was unseaworthy

In a Court of Appeal ruling, which was described by lawyers Watson Farley & Williams as “significant”, judges said, on 5 March, that inadequate passage planning had rendered the 6,000TEU CMA CGM unseaworthy.

CMA CGM Libra had left Xiamen port after part loading cargo with an inadequate action plan and was grounded, needing assistance to be refloated. The shipping line then declared general average, collecting security from cargo owners.

However, the lawyers said, “A substantial proportion of...

https://container-news.com/uk-court-of-appeal-accepts-that-cma-cgm-libra-was-unseaworthy/

UCL Energy Institute Supports Leading International Banks To Promote Greener Global Shipping Through New Principles

11 major shipping banks, representing a bank loan portfolio to global shipping of approximately $100 billion will for the first time integrate climate considerations into lending decisions to incentivize maritime shipping’s decarbonization. The Poseidon Principles are a global framework for...

https://www.ferryshippingnews.com/ucl-energy-institute-supports-leading-international-banks-to-promote-greener-global-shipping-through-new-principles/

MSC to equip its fleet with scrubbers

Watson Farley & Williams (“WFW”) advised BNP Paribas (“BNPP”) as co-ordinating bank and agent, together with a syndicate of four other banks as lenders, in connection with a US$439m SINOSURE-backed financing of 86 exhaust gas cleaning systems (“scrubbers”) for the MSC Mediterranean Shipping Company SA (“MSC”) group.

The loan will be used to finance the manufacturing and installation of the scrubbers on board 86 container ships owned by the MSC group in light of the implementation of the...

http://container-news.com/msc-equip-fleet-scrubbers/