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Judge halts striking-off of five vessels from shipping register amid oil smuggling investigation

A judge has halted the striking-off of five vessels from Malta’s flag state shipping register because of their part-ownership by ex-footballer Darren Debono, saying the measure would be “draconian and premature.” Debono is currently in the custody of the Italian authorities after he was arrested in connection with a fuel smuggling operation. The shipping vessels MV Marie De Lourdes I through V belong to World Water Fisheries, of which Debono is a shareholder. World Water Fisheries Ltd had filed an application for a warrant of prohibitory injunction against the Registrar ...

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Abortive repairs: a new accident or the unfinished business of an old one? Association of Average Adjusters speaker tackles the dilemma

A three-pronged approach is required when considering the issue of a new intervening cause in contentious instances where maritime casualties have potentially been aggravated by shiprepair defects. This position was advocated by the speaker at the spring 2018 seminar in London of the Association of Average Adjusters. A fault, introduced during the repairs to a ship’s hull or machinery, can have knock-on consequences that may result in huge physical damage to the asset and consequently the need to repeat the repairs. The problem, when it appears, is a source of ...

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WFW advises ING-led syndicate on financing for world’s first ever LNG-powered aframax tankers for Sovcomflot

Watson Farley & Williams (“WFW”) has advised ING Bank (“ING”), as agent, security trustee and the syndicate of lenders on the US$252m financing of the world’s first ever LNG-powered aframax tankers for leading Russian shipowner Sovcomflot Group (“SCF”). The six 114,000dwt, ice-class vessels are being built by Hyundai Samho, with two of the vessels to operate under time charter to Shell for up to ten years. Shell will also provide LNG fuel for all six tankers across north-west Europe and the Baltic. In addition to ING, international lenders ABN Amro, ...

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WFW advises ABN on US$220m loan facility

Watson Farley & Williams (“WFW”) has advised ABN AMRO Capital USA LLC (“ABN”) in relation to a US$220m loan facility for Team Tankers. The loan facility refinanced certain existing indebtedness and assisted Team Tankers in financing the acquisition of Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd, and increases Team Tanker’s overall fleet from 37 to 52 vessels. The facility is secured by mortgages over 34 vessels registered on Bermuda, Maltese and Liberian flag. Mandated lead arrangers are ABN, Danish Ship Finance A/S, NIBC Bank N.V., and Skandinaviska Enskilda Banken ...

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Singapore: Singapore Apex Court To Issue Grounds Of Decision Clarifying The Juridical Nature Of Shipping Liens Over Sub-Freights

On 5 March 2018, a five-member Court of Appeal (comprising the Honourable Chief Justice Sundaresh Menon and the Honourable Judges of Appeal Andrew Phang Boon Leong, Judith Prakash, Steven Chong and Tay Yong Kwang) heard the ship-owner’s appeal against the Singapore High Court’s decision in Duncan, Cameron Lindsay and another v Diablo Fortune Inc and another matter [2017] SGHC 172. This landmark decision has been closely watched because of its significance to the shipping industry. The liquidators, who had prevailed in the court below, were once again successfully represented in ...

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Conversion claims based on unauthorised creation of lien on cargo

Where a bill of lading holder fails to take delivery within a reasonable time, the carrier may be entitled to land and store the goods at the cost of the bill of lading holder. This common-sense position accords perfectly with the Bill of Lading Act 1856, from which several Nigerian court decisions on cargo claims have derived inspiration. Bill of Lading Act The Bill of Lading Act provides that consignees or endorsees of bills of lading to whom the ownership of the goods mentioned therein will pass, on or by ...

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WFW advises BTMU on US$180m refinancing of two K-Line LNG vessels

Watson Farley & Williams (“WFW”) has advised The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”), Japan’s largest bank, as facility agent for a syndicate of international lenders comprising itself, Development Bank of Japan Inc. and Societe Generale on the US$180m refinancing of two K-Line LNG vessels, “Arctic Voyager” and “Arctic Discoverer” which are time chartered to Statoil ASA, the world’s largest offshore operator. The WFW Hong Kong Asset Finance team advising on the transaction was led by Partner and Office Head Madeline Leong, supported by Senior Associate Ryan Tan, Registered Foreign ...

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A bunkering company received $60 000 debt for bunker supply

Interlegal lawyers facilitated again debt recovery in favor of the bunkering company for bunker supply, amounting to 60,000 USD. Interlegal lawyers led the case for almost a year. A keystone for the Debtor’s decision to recover the debt was arrest of his vessel as maritime claim security. Project specification was cooperation of Interlegal Turkish and Ukrainian offices, since both the Creditor and the Debtor were located in Turkey. Teamwork of both offices resulted in simplifying contacts with the Client and dispute settlement by means of negotiations, without forced debt recovery. ...

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What will Brexit mean for the international shipping community choosing English law and jurisdiction?

English law, and the jurisdiction of the English courts or arbitration in England, remains the most frequent choice for parties throughout the shipping industry. On Friday 8 December 2017, the UK and the EU announced that “sufficient progress” had been made in the first phase of Brexit negotiations, paving the way for discussions to shift to the UK’s future relationship with the EU. As attention turns to the post-Brexit landscape, there has been considerable speculation about the potential implications for English law. The concerns of some that the uncertainty caused ...

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Interlegal lawyers refunded m/v «Norasia Taurus» general average costs

Interlegal lawyers completed final case proceedings upon maritime casualty upon m/v «Norasia Taurus» in 2005. The Client refunded unused costs of guarantee security for cargo release, which resulted in 19 months of complex cooperation with Albatross Adjusters Limited, the general average dispatcher. Case was complicated by the fact that, apart from loss of original dispatcher’s note (principal document required for successful cost refund), the company to whose account costs were refunded ceased to exist. Interlegal experts of several departments led the case. Lawyers held negotiations with dispatcher, drafted documentary scheme ...

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Shipowners face risk of criminal liability for illegal demolition of end-of-life vessels

A Rotterdam court has found Dutch reefer operator Seatrade and two of its directors criminally liable last week for illegally selling vessels for demolition in South Asian yards in breach of the EU Waste Shipment Regulation. The decision appears to be the first time an EU shipowner has been held criminally liable for the illegal export of vessels for demolition to South Asian yards. The Dutch public prosecutor brought the cases against Seatrade over historic sales of vessels for demolition in India, Bangladesh and Turkey in 2012. The sales of ...

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22 men jailed over illegal transfers of marine fuel oil

Twenty-two men have been jailed after they illegally transferred more than 200 tonnes of marine fuel oil worth over $112,000 from one vessel to another in separate incidents. They were each jailed for between two and seven months on Wednesday. Two of them are Singaporeans – Teo Chai Heng, 39, and Lim Kim Hock, 40 – who worked for a locally registered company, Brightoil Petroleum (Singapore). They were bunker clerks of Brightoil 326 – a Singapore-registered tanker. The pair were jailed for five months after pleading guilty to one count ...

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WFW advises Navantia on delivery of Spanish Suezmax vessel “Monte Udala”

Watson Farley & Williams (“WFW”) advised Navantia S.A., M.E. (“Navantia”) on the delivery of a Spanish built SUEZMAX vessel – the “Monte Udala” – to a shipowner that is part of the Ibaizábal Group. Suezmax is the largest ship measurement capable of transiting the Suez Canal, generally referring to tankers. Navantia is a Spanish state-owned company which belongs to the Sociedad Estatal de Participaciones Industriales (“SEPI”), which controls 100% of its capital. The Ibaizábal Group is a commercial organisation involved primarily in the ship management of its own fleet of ...

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Otto Marine Limited Placed Under Judicial Management

Otto Marine Limited has obtained approval from the Singapore High Court to be placed under judicial management. Yesterday (i.e. 21 March 2018), Otto Marine Limited, which had filed an application to place itself under judicial management last month, obtained approval from the Singapore High Court to be placed under judicial management. Mr Chee Yoh Chuang and Mr Lin Yueh Hung of RSM Corporate Advisory were appointed as judicial managers. The judicial management order will remain in force for 180 days from the date of the order, unless discharged earlier. During ...

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Status of progressive storage charges

This update provides a review of progressive storage charges in Nigeria by examining the recent Court of Appeal decision in Apapa Bulk Terminal Limited v Nigerian Shippers’ Council. Facts In a February 20 2014 letter, the minister of transport conveyed the president’s appointment of the first respondent (the Nigerian Shippers’ Council) as the economic regulator of the Nigerian ports. Pursuant to its appointment, the first respondent issued Notice NSC/LN-TO/2004/001 on October 28 2014 in order to check: • the excessive loss of revenue from the maritime sector caused by the ...

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