The cross-border WFW Maritime team that advised the bank on the transaction was led by London Partner Kavita Shah, with New York Partner John Benson leading on the US law aspects of the transaction.
WFW advises Macquarie Bank on first of its kind shipping loan/lease securitisation for Fleetscape15 February 2021
Securitisation principles and certain structuring efficiencies were utilised to enable Fleetscape to offer sale-and-leaseback or unitranche financing on highly competitive terms.
Seamax operates a fleet of 12 modern, post-Panamax container ships and provides the world’s top shipping lines with over 1.2m deadweight tonnage in carrying capacity.
Both LNG Carriers Tangguh Batur and Tangguh Towuti have been recognised by the Maritime and Port Authority of Singapore’s Green Ship Programme for attaining Energy Efficiency Design Index certification.
The loan is secured over three large container ships operated by Maersk A/S, a subsidiary of AP Moller Maersk.
WFW advised on matters of Marshall Islands, Liberian, Thai and maritime law and also, through our formal law alliance in Singapore with Wong Tan & Molly Lim LLC, Singapore law.
This is a milestone transaction as it represents one of the world’s first completed Japanese operating lease financing for vessels which has involved a Chinese leasing company.
This is an urgent 2019 deadline for Liberian corporations that have issued (or authorized to issue) bearer shares and the holders or beneficial owners of such shares.
This briefing highlights an urgent obligation applicable to the holders and beneficial owners of bearer certificates of Marshall Islands corporations.
The penalty for failing to comply is a fine or dissolution.