Watson Farley & Williams (“WFW”) has advised CSSC (Hong Kong) Shipping Company Limited (“CSSC”) regarding two luxury roll-on/roll-off passenger (“RoPax”) ferries, the Moby Fantasy and Moby Legacy, with Italian operator Moby S.p.A. (“Moby”). The vessels were built by China’s Guangzhou Shipyard International and are currently the world’s largest luxury RoPax ships. Moby Fantasy was delivered in early May 2023 and Moby Legacy will be delivered in late 2023.
Both vessels will hold up to 3000 passengers and 1300 vehicles. The vessels are equipped with hybrid scrubber systems and designed with an option to switch to LNG power fuel, further promoting reduction in carbon emissions and sustainable shipping in the industry.
Established in 2012, CSSC is the first shipyard-affiliated leasing company in the Greater China region and one of the world’s leading ship leasing companies. The company provides leasing services to clients with the options of finance lease and operating lease. CSSC focuses on the provision of ship and marine equipment leasing services and also provides shipbroking services and loan services. Its cooperation with Moby enhances its shipping fleet, allowing it to focus on its core mission of promoting industry and finance.
The WFW Hong Kong Assets & Structured Finance team that advised CSSC was led by Hong Kong Head Christoforos Bisbikos, supported by Senior Associate Melissa Hoh in Singapore and Associate Thomas Wan. WFW Italy Partner Furio Samela, Senior Associates Antonella Barbarito and Davide Canepa, and Associate Noemi D’Alessio advised on the Italian aspects of the transaction.
Christoforos commented: “We’re excited to have advised our long-standing client CSSC on the successful completion of a complicated sale and leaseback transaction for two luxury RoPax ferries, which stands out thanks to both its structure and the unique assets involved. It’s a testament to CSSC’s strength in delivering world class vessels of any type and, most importantly, their ongoing commitment to collaborating with international shipping owners. We are proud to have been able to support them on this deal.”