Watson Farley & Williams (“WFW”) advised longstanding client Nippon Yusen Kabushiki Kaisha (“NYK”) on its acquisition of a 50% stake in Avenir LNG Limited (“Avenir LNG”) from Stolt-Nielsen Gas Ltd. (“Stolt Nielsen”), a subsidiary of Stolt-Nielsen Limited. Completion of the transaction is expected at the end of Q2 2026, subject to customary approvals.
This acquisition broadens NYK and Stolt-Nielsen’s opportunities in the LNG bunkering space, helping advance the global transition toward LNG and bio‑LNG both as marine fuels and for other industrial uses. With the recent surge in dual fuel LNG vessel orders, LNG and LNG bunkering has developed further as a viable, scalable option for reducing emissions in the shipping sector.
Established in 1885, NYK provides safe and high-quality transportation services using its world-class fleet and global network across the container, automotive, dry bulk and energy carrier markets.
Avenir LNG was founded in 2017 and has grown into a leading player in LNG bunkering, operating a global fleet of vessels active in the sector.
Stolt-Nielsen is a leading global provider of integrated bulk-liquid logistics, storage and specialised transportation services founded in 1959.
The multi-disciplinary WFW London team that advised NYK was led by Asset Finance Partner Patrick Kirkby and Corporate Partner Christina Howard, supported by lead Senior Associate Sebastian Lello and Associate Laura Izquierdo. Project documentation and asset finance advice was provided by Partners Robert Platt and Joe McGladdery, Senior Associate Sarah Lunn, and Associates James Burgess and Lottie Lymer. Partner Devan Khagram and Associate Charlotte Herrington advised on the employment law aspects of the transaction. Tax advice was provided by Partner Claire Miles and Associate Pip Moss. Competition expertise was provided by Partner Solange Leandro and Senior Associate Edita Katuscakova. Partner Nick Walker and Associate Hamish Ungless advised on regulatory and environmental law matters. Real estate expertise was provided by Partner John Rosmini and Senior Associate Cole Tennant-Fry. Sanctions advice was provided by Partner Simon Kavanagh. Partner Heike Trischmann advised on LNG supply and trading contracts.
Patrick commented: “We are glad to have advised NYK on this promising strategic allegiance which reflects both companies’ dedication to advancing sustainable energy within global shipping by ensuring safe and dependable access to LNG fuel”.
Christina added: “We are pleased to have supported NYK as it continues to develop its LNG portfolio. Utilising our full-service team of corporate and maritime experts, WFW is able to advise on all aspects of maritime and energy M&A transactions, helping move forward the global energy transition”.
NYK remarked: “We are very pleased to have completed this important transaction and greatly appreciate the support of Patrick, Christina and the Watson Farley & Williams team throughout the process. Their industry knowledge and commercial insight was invaluable and the close collaboration between our teams helped us in achieving a successful outcome for our business”.
Appleby supported WFW on Bermudan law aspects of the transaction.
