The vessel was funded by a pre- and post-delivery financing facility backed by Italian ECA SACE.
Based on over 30 years’ experience of handling marquee transactions, our expert advice helps companies succeed in this thriving segment of the maritime industry.
Cruise remains a growing segment in the maritime industry: newbuild orders are high and cruise companies enjoy good access to ECA finance and support. Our specialist team continues to handle some of the most important, high profile transactions in the industry.
In addition to finance, corporate, commercial, tax, employment, regulatory and dispute resolution expertise, our exceptional knowledge of the maritime world helps us add commercial value for our clients. We work across the board, from start-up companies entering the market, joint ventures exploring new opportunities, for large established cruise brands expanding their fleets as well as financiers and other key stakeholders.
Having advised on the majority of the cruise projects in the market, our team has recognised depth and strength and the ability to advise on bespoke commercial and operating agreements in this niche area.
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Italy’s 2021 Annual Competition Law gives the Transport Regulation Authority the power to regulate ADR procedures for the transport sector, requiring a compulsory conciliation procedure be undertaken prior to any action in court.
The two additional newbuildings planned – Explora V and Explora VI – will use LNG as a main fuel as well as green hydrogen to bring emissions down to zero in port.