WFW advises Dorian on US$62.9m ECA-backed newbuild VLGC financing8 April 2026
The vessel will be delivered by South Korean Hanwha Ocean Heavy Industries
The vessel will be delivered by South Korean Hanwha Ocean Heavy Industries
On March 19, 2026, the U.S. Customs and Border Protection published a notice confirming the issuance of a 60-day limited waiver by the Department of Homeland Security permitting foreign-flagged vessels to operate in the U.S. coastwise trade for the purpose of transporting at least 659 types of commodities.
Implementing an innovative structure, the first of its kind in India, this transaction marks the first time a financing for an Indian airline has been structured directly to a borrower in GIFT City, India’s emerging international financial hub, which has not been structured through Ireland.
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The JV will integrate SEACOR and Crowley’s liquid energy and chemical transportation vessels, operations and related services into a new service provider.
The restructuring addressed more than US$1bn of secured and unsecured holding company debt.
Seaspan will use the loan proceeds to fund 15 7,000 TEU dual fuel newbuild container vessels.
WFW was chosen to advise on this deal ahead of a number of other leading international firms thanks to the experience and expertise of its lawyers.
The loan is secured over three large container ships operated by Maersk A/S, a subsidiary of AP Moller Maersk.
We advised long-standing client Dorian LPG Ltd. on two debt financings: a US$155.8m refinancing with a new US$25m revolver and a US$71.5m sale leaseback transaction.
We advised Santander on three separate Swedish ECA-backed loans used to fund the purchase of Scania AB buses by concessionaires operating under the TransMilenio public transportation system in Bogotá, Colombia.
Shanghai-based CMBFL provides financial leasing solutions to large, medium and small businesses across China. It is a subsidiary of China Merchants Bank, the first share-holding commercial bank wholly owned by corporate legal entities in China.
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