The joint venture acquired two Suezmax tankers for a combined consideration of US$40.6m. Both vessels have been delivered into the joint ventures.
With our bench strength, experience and international presence, we are strongly placed to advise on every aspect of commercial shipping across all maritime classes.
Our highly experienced team provides commercial and regulatory advice for stakeholders in all maritime classes including tankers, bulk-carriers, gas carriers (LNG, LPG), offshore units, supply and support vessels as well as specialised areas such as ferries, cruise ships and seismic surveying.
With a reputation for a commercially aware, practical approach, our lawyers cover the whole gamut of commercial shipping requirements including newbuilding contracts, sale & purchase contracts, chartering, supply, service and installation and regulatory and sanctions advice (from IMO compliance issues to recycling and establishment of NGOs).
We are recognised industry leaders in current complex issues such as sanctions, scrubbers (purchase, sale, installation and financing) and other bespoke contractual arrangements.
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On October 10, 2019, the Marshall Islands was removed from the European Union’s blacklist of non-cooperative jurisdictions for tax purposes.
COSCO Tanker and COSCO Shipping Tanker (Dalian) Seaman and Ship Management Co., as well as four other Chinese companies, have been placed on the list of “Specially Designated Nationals and Blocked Persons by the US Office of Foreign Assets Control. This article looks into the effects of these sanctions.