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WFW advises Teekay LNG on US$355m Chinese sale and leaseback of two LNG carriers

International law firm Watson Farley & Williams (“WFW”) has advised long-standing client Teekay LNG Partners LP on Chinese sale and leaseback transactions worth US$355m for two of its 173,400cbm MEGI LNG carrier newbuilds currently under construction by South Korea’s Daewoo Shipbuilding & Marine Engineering Co., Ltd. (“DSME”). On delivery from DSME, both vessels are contracted to go on long term charter to Shell. The first (financed for US$175m) is scheduled for delivery in 2017 and the second (financed for US$180m) in 2018. These are the fifth and sixth Chinese sale ...

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Singapore Shipping Company Admits to Probation Violation

Singapore-based ODFJELL ASIA II PTE LTD (“OAII”), which was convicted in 2014 of violating the Act to Prevent Pollution from Ships, has admitted to violating the conditions of its probation, announced Deirdre M. Daly, U.S. Attorney for the District of Connecticut, and Jeffrey H. Wood, Acting Assistant Attorney General of the Environment and Natural Resources Division (ENRD). As a result, OAII’s term of probation, which was scheduled to conclude this month, was extended by one year, and the company has agreed to additional probation conditions. On May 14, 2014, U.S. ...

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WFW advises lenders on financing of Hapag-Lloyd-UASC merger

International law firm Watson Farley & Williams (“WFW”) has advised a group of 27 international and local banks, acting as financiers under a variety of bilateral and syndicated, secured and unsecured, debt financing, Islamic financing and leasing facilities, in relation to the consents necessary in connection with their successful financing of the US$14bn merger between Hapag-Lloyd and United Arab Shipping Company (“UASC”). Hamburg-headquartered Hapag-Lloyd AG previously had over 160 vessels with a total capacity of 955,000 TEU. UASC, currently headquartered in Dubai, was jointly established in 1976 by the governments ...

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WFW advises Credit Agricole Asia Shipfinance Ltd. on two JOLCOs

International law firm Watson Farley & Williams (“WFW”) advised Credit Agricole Asia Shipfinance Ltd. in respect of the structuring and financing of two Japanese operating leases (“JOLCOs”) with call options relating to two Hong Kong flagged oil tankers under a sale and leaseback transaction with a prominent Asian tanker owner. The transaction was co-arranged by Springliner Ltd. and fully underwritten by Crédit Agricole Corporate and Investment Bank and a group of Japanese investors. The WFW team was led by Partner and WFW Hong Kong office head Madeline Leong, assisted by ...

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Seward & Kissel Represents Dynagas LNG Partners LP in $480.0 Million Senior Secured Term Loan B Facility

Dynagas LNG Partners LP (the “Partnership”) (NYSE: DLNG), an international owner and operator of liquefied natural gas (LNG) carriers, announced today the closing of its $480.0 million Senior Secured Term Loan B facility (the “Term Loan B Facility”). The Term Loan B Facility is secured by, among other collateral, first priority mortgages covering vessels owned by subsidiaries of the Partnership, and is guaranteed by the Partnership and certain of its subsidiaries. The Term Loan B Facility has a six-year term and was priced at 3.50% Base Rate per annum for ...

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New chairman Willum Richards to lead Association of Average Adjusters in international drive to bolster high standards in settling marine and offshore claims

Willum Richards, the new chairman of the Association of Average Adjusters, has set out his aim to build on the work of his predecessor, Keith Martin, in advancing the Association internationally. Along with the management committee, Mr Richards will also be steering the Association through some organisational changes required by the success achieved in expanding the scope of, and interest in, the Association’s highly-regarded examinations. Mr Richards was confirmed as chairman for 2017-18 at the Association’s annual meeting, which took place at the London offices of law firm Clyde & ...

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Double Success For Hill Dickinson’s Award-Winning Apprentice Scheme

International commercial law firm Hill Dickinson is celebrating double success for its apprenticeship programme. The firm was awarded Best School-Leaver/Apprenticeship Initiative at the prestigious HR in Law Awards, held at The Honourable Artillery Company in London on 4 May. The annual awards recognise and celebrate the achievements of HR professionals operating in the legal sector. Over 300 people attended the event, which was hosted by presenter and comedian Katherine Ryan. Following the award win, the firm was named in the UK’s top 100 most popular employers for school leavers for ...

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Gard’s appeal to the English Supreme Court is decided

As a leading P&I, Marine and Energy insurer, Gard is prepared to support its Members and clients in litigation when there is a need to clarify points of law of general importance. Indeed, commercial dealings between owners and charterers are helped by having certainty in how risks are to be allocated between them. And, legal clarity also aids the various insurers’ risk assessments. Moreover, legal certainty should, in time, reduce the frequency of disputes serving to save litigation costs for all concerned. In November 2016 the English Supreme Court heard ...

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The Ocean Victory – Supreme Court Decision

The UK Supreme Court has upheld the Court of Appeal’s ruling in The ‘Ocean Victory’ (Gard Marine and Energy Limited v China National Chartering Company Limited and Daiichi Chuo Kisen Kaisha (2017)) that the port of Kashima in Japan was legally safe. The Facts The ‘Ocean Victory’, a capsize bulk carrier, was discharging iron ore at Kashima in October 2006 but had to leave the berth because of long waves that were affecting the port. The vessel encountered gale force winds at the port entrance and subsequently ran aground, broke ...

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Hill Dickinson Welcomes Senior Associate Pansy Tsang To Its Hong Kong Office

International commercial law firm Hill Dickinson has appointed senior associate Pansy Tsang to join its Hong Kong office. Joining from Szwina Pang, Edward Li & Co and previously Howse Williams Bowers, Pansy specialises in personal injury and employees’ compensation litigation in both minor and catastrophic injuries as well as having vast experience of medical negligence claims. Pansy also has significant experience in handling claims and applications under the Mental Health Ordinance regarding mentally incapacitated persons as well as probate issues in respect of fatal accidents. She will work closely with ...

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Gujarat high court intervention gets Greek ship engineer his pay

Gujarat high court had ordered the arrest of a ship, after the shipping company concerned did not pay a Greek engineer for his services provided at a Mozambique port. The shipping company immediately paid the engineer’s dues to stop the vessel being arrested in Indian waters. On Thursday, Ismail Dimitrios approached the high court with a complaint. He stated that he was hired by a Greek shipping company, Aegeus Shipping SA, for repair and maintenance of machinery on its ship MV Marine Stars, which was berthed at Maputo in Mozambique. ...

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United States: District Court In Cal Dive Rules Against Vessel Owner’s Challenge To Maritime Lien

The U.S. District Court for the Southern District of New York has denied a motion for summary judgment filed by a vessel owner that sought to dismiss the maritime lien claim of a provider of deck personnel. The court’s ruling in Cal Dive Offshore Contractors, Inc., et.al. v. M/V SAMPSON, Cal Dive Offshore Contractors, Inc., et.al. v. M/V SAMPSON, et.al., announced on March 27, 2017, serves to remind vessel owners of the need to provide actual and specific notice of “no lien” provisions to potential lienholders supplying necessaries to the ...

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Hill Dickinson Appoints John Gittins As Non-Executive Director

International commercial law firm Hill Dickinson has announced the appointment of John Gittins as non-executive director. John joins the firm with a wealth of experience, having previously worked with Electricity North West and United Utilities in non-executive roles, as well as holding concurrent roles with Nichols plc, Park Group plc and Claire House Children’s Hospice. He also has over 20 years’ experience working with PLCs in an executive capacity, operating as chief financial officer across a number of sectors within UK listed, multi-site, national and international businesses. The appointment has ...

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The Arundel Castle – Definition of ‘Within Port Limits’

The recent case of Navalmar Uk Ltd v Kale Maden Hammaddeler Sanayi Ve Ticart As (The Arundel Castle) [2017] EWHC 116 (Comm) discussed the meaning of “within port limits” in an amended Gencon 94 charterparty form in relation to laytime and tendering notice of readiness. Facts The “Arundel Castle” found the port of Krishnapatnam congested upon her arrival and could not proceed straight to berth. Instead, the port authority directed the ship to an anchoring area. Owners tendered notice of readiness from the anchorage and the matter ended up in ...

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Norton Rose Fulbright announces expansion of shipping and offshore oil and gas team

Global law firm Norton Rose Fulbright has today announced the hires of Jonathan Siu and Sung Hwan (‘SD’) Choi. Jonathan and SD have joined the shipping and offshore oil and gas team in the Singapore office. Jonathan Siu has joined the firm as senior associate, from Allen & Overy in Perth. Jonathan has extensive experience on a broad range of international transactions focusing primarily in the shipping, offshore and oil and gas sectors and has acted on numerous award winning deals including the Ichthys LNG and Nghi Son Refinery projects. ...

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