Watson Farley & Williams (“WFW”) has advised GEFO Shipping Group on its triple-digit million order for ten seagoing chemical tankers from China’s Xiangyu Shipyard based in Nantong.
The state-of-the-art vessels, which are scheduled for delivery between 2026 and 2028, have been designed to be adaptable to the use of alternative fuels and new propulsion systems in support of GEFO’s goal of having a carbon-neutral fleet by 2045.
Founded in 1961, Hamburg-based GEFO Shipping Group is a medium-sized shipping company with a fleet of 150 maritime and inland tankers, operating primarily in the chemicals and oil and gas sectors. Committed to both the highest safety standards, it routinely invests in new technology to ensure its vessels are the cutting-edge of sustainability-linked developments.
Xiangyu is a leading shipbuilding and offshore engineering company based in Nantong, Jiangsu Province. Part of the Xiamen Xiangyu Group, it has a long-standing reputation for shipbuilding excellence.
The WFW Hamburg Maritime team that advised GEFO Shipping Group was led by Partner and Head of Germany Dr Christian Finnern, supported by Managing Associate Peter Grass and Associate Maximilian Henning. London Maritime Partner Charles Buss assisted on English law matters pertaining to the transaction.
Christian commented: “We are delighted to have advised new client GEFO Shipping Group on this strategic international transaction. The negotiations, which were partially conducted in China, as well as the demanding timetable, made this particularly exciting and challenging mandate to act on. Being instructed by GEFO on this project highlights WFW’s unique experience in and commitment to helping our clients achieve carbon neutrality in line with international shipping’s sustainability goals”.