WFW advises NYK on long-term charter contracts for four LNG carriers
The four vessels will be constructed at HD Hyundai Heavy Industries Co. Ltd. and will be completed in sequence during 2027.
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Can I have a refund?
In this article we discuss Havila Kystruten AS v Abarca Compania de Seguros AS in which we represented the successful Norwegian shipowner. The judgment is welcome for the detailed guidance on the parties’ rights to terminate shipbuilding contracts as well as the nature and scope of refund guarantees.
Shipbuilding Contracts & Refund Guarantees20 October 2021
With the remarkable rise in activities around the ordering of vessels to be constructed after years of very limited orders, industry players have yet again to be aware of the legal aspects and pitfalls relating to newbuilding contracts and refund guarantees.
Interpreting see-to-it and on-demand guarantees
The English Court of Appeal’s recent decision in Shanghai Shipyard Co Ltd v Reignwood International Investment (Group) Company Limited provides important clarification on how the courts will construe such instruments and indicates a movement away from presumptions based on the identity of the guarantor.
WFW advises ORD on shipbuilding contract for development of luxury residential vessel M/Y Njord
The M/Y Njord, which has a target delivery date in 2025, is a 289-metre private residential yacht featuring 117 luxury residences. Its primary goal is to act as a home base for individuals and families sharing a passion for travel, adventure and discovery across the oceans.
WFW advises Virgin on delivery of cruise ship Valiant Lady
Valiant Lady is the second of four cruise ships ordered by Virgin and is expected to be based in the Mediterranean by 2022.
Making demands of parents – interpreting see-to-it and on-demand guarantees
This briefing examines the decision in Shanghai Shipyard Co. Ltd. v Reignwood International Investment (Group) Company Limited & Ors , in which the Commercial Court considered whether an instrument issued in relation to a shipbuilding contract was a see-to-it or an on-demand guarantee.
Cancellation, notices and the prevention principle in shipbuilding contracts
In a judgment handed down today, WFW acted for the successful party on an appeal to the English Commercial Court on key questions concerning SAJ Form shipbuilding contracts (SBCs). This article explores the judgment.
COVID-19 – IMO guidance on delays of ship deliveries
This briefing examines recent IMO guidance relating to delays of ship deliveries due to COVID-19.
