Marine link

Lawrence Graham

Lawrence Graham Completes LATCO Loans

London law firm, Lawrence Graham has advised the Latvian Shipping Company on a complex multi-bank loan scheme to finance its recently completed purchase of three 68,000 dwt product tankers. The $125 million deal, together with $90 million of associated acquisition finance, involved separate loan agreements with banks in Hamburg, Stockholm, Riga and Rotterdam. Duncan Bateson, senior shipping assistant lawyer, who managed the transaction, says, "LATCO wanted to take the opportunity to get to know a number of banks through separate loans rather than obtain one syndicated loan. Negotiating three sets of loan documents added an extra challenge to quite a tight delivery schedule." Latvian Shipping Company agreed to pay $41.6 million for each of the sister vessels and Lawrence Graham advised them on three separate purchases and loan facilities of $30 million each. The purchases and financings involved coordinating legal advice from many jurisdictions around the world, including Germany, Sweden, Latvia, Netherlands, Greece, Malta, Bermuda, Cyprus, Caymans, Liberia, with the vessels delivered in Japan and Brazil. The Lawrence Graham team consisted of shipping partner Mike Lax and finance partner Paul Walker, who were assisted by senior shipping assistant Duncan Bateson and finance junior Raj Bahia.

Settlement reached in Stocznia/Latreefers dispute

TERMS of settlement have been reached in the protracted legal dispute between Polish shipyard Stocznia Gdanska, Latreefers and the Latvian Shipping Company ("Latco"). The settlement, the terms of which remain confidential, brings to an end a long-running legal battle which has been fought out in the English and French courts over a period of years. The Latvian interests were represented throughout by Lawrence Graham. Ince & Co represented the Polish yard.

Are You Ready for HNS?

London law firm Lawrence Graham says shipping is focusing on complying with security requirements, but another Convention soon to be enforced will have major ramifications for all aspects of shipping. Are you ready for the Hazardous and Noxious Substances Convention 1996? Writing in the latest issue of Shipping Lawgram, Imogen Rumbold, shipping partner, says the HNS Convention is likely to come into force in the next two years

Senior Shipping Lawyers Join P&I Club

Three experienced shipping lawyers have moved to the 45 million GT North of England P&I club, further confirming its status as one of the major players in the international maritime insurance industry. They include two partners from leading London maritime firms and a US shipping attorney from New York. Former Lawrence Graham partner Charles Baker (54) has joined the club's freight, demurrage and defence department as a solicitor

Graham Gulf Commissions a Special Boat

The Graham name is well known in the Gulf of Mexico maritime world with family ownership of fleet operator Graham Gulf and the C&G Boat Works in Mobile Alabama. As Graham Gulf's newest crew boat leaves the C&G Boat Works and goes into service this month it will mark a special memorial. The 165-foot vessel is named for Gayla Graham, sister to Janson Graham and a partner in the firm, who died tragically in an auto accident last year

$7 Billion Makeover for Great Lakes-St. Lawrence Shipping

A typical bulker plies the St. Lawrence Seaway (image: Chambr of Marine commerce)

A new study released today reveals that $7 billion is being spent on asset renewal and infrastructure improvements in the bi-national Great Lakes-St. Lawrence shipping system.   The investment survey, compiled by maritime trade consultants, Martin Associates, tallies US$ 6.9 billion in capital spending on ships, ports and terminals and waterway infrastructure in the Great Lakes and St. Lawrence waterway. Of that total, $4

St. Lawrence Seaway Opens

The Montreal/Lake Ontario section of the St. Lawrence Seaway officially opened today with the transit of the M/V Halifax at the St. Lambert Lock. Destined for Toledo carrying a load of iron ore from Sept-Iles, the 17,752 tonne bulker has a complement of 25 sailors. The Seaway has opened on or before March 31st in 15 of the last 20 years. The official opening of the St. Lawrence Seaway occurred on the Welland Canal two days ago, marking its 46th consecutive shipping season

Commissioning for Newest Navy Destroyer USS Lawrence

The USS William P. Lawrence (DDG 110) will be commissioned June 4, 2011, at the Alabama State Port Authority Pier 2 Terminal in a ceremony co-hosted by the City of Pensacola and the City of Mobile.   The commissioning was originally planned for NAS Pensacola as part of the celebration of the Centennial of Naval Aviation. Mobile offered to co-host the ceremony at the Port of Mobile after the U.S. Army Corps of Engineers announced the channel leading to the Pensacola base would not

Foss Tows Drilling Rig to AK Winter Harbor


Jackup drilling rig successfully navigated through Cook Inlet.     Foss Maritime Co. tugs Justine Foss and Jeffrey Foss have completed a successful tow of a jackup drilling rig to its winter harbor in Port Graham, Alaska. The Spartan 151 jackup drilling rig was moved from its drill site at Nikiski, in the Cook Inlet, which becomes choked with ice during the winter. Gary Faber, president and COO of Foss Maritime

CG Commandant to Speak at Conference

More than 400 U.S. and Canadian government, commercial and environmental officials will meet for a two-day conference beginningWednesday, January 29 at the Sheraton Cleveland City Center. Known as Marine Community Days, this event brings together the U.S. and Canadian members of the Great Lakes/St. Lawrence Seaway marine community to discuss a broad range of issues. Discussion topics will include: Homeland Security, the Maritime Transportation System, maritime security, navigation

Qu├ębec, Indiana Partner for Great Lakes Shipping

Photo: Ports of Indiana

Québec Minister of International Relations and Francophonie Christine St-Pierre and Indiana Lieutenant Governor Sue Ellspermann today announced that the Province of Québec and the State of Indiana will launch a new partnership to intensify their collaboration in Great Lakes/St

Leaders Call on Canadian Marine to Grow Economy

Robert Lewis-Manning (Photo: CSA)

The Federal Election is an important opportunity to boldly support the marine industry as a means to sustainable Canadian growth. During this election and post-election period, political leaders are urged to build upon Canadian domestic shipping for the Canadian economy and sustainable economic

Cleveland Reports Persistent Cargo Growth

Photo: Lower Lakes Towing

Buoyed by increasing returns from its creation of the Cleveland-Europe Express (CEE) liner service, the Port of Cleveland continued to see record numbers in August, particularly in containerized cargo, the port announced.   While numbers for containers were up 300 percent through June

Great Lakes Ore Trade Dips in August

Photo: Interlake Steamship

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 5.9 million tons in August, a decrease of 19 percent compared to a year ago, according to the Lake Carriers’ Association (LCA).   LCA said the ore trade was suppressed by continued high steel imports levels

SIU sues CBSA Over Permits to Foreign Sailors


The Seafarers’ International Union of Canada (SIU) has launched a lawsuit challenging repeated decisions by the Canadian Border Services Agency (CBSA) to grant temporary work permits to foreign maritime workers crewing foreign ships operating in Canadian waters

Port of Cleveland Awarded for Cargo Growth

Photo: Port of Cleveland

The Port of Cleveland informs it has been awarded by the U.S. Saint Lawrence Seaway Development Corporation (SLSDC) for its international cargo growth.   The Robert J. Lewis 2014 Pacesetter award, presented to the port by the SLSDC this morning at its monthly board meeting

Seaway Sees Project Cargos Rise in August

Press release - While August is generally slower for Seaway traffic, U.S. ports handled a range of project cargo for their customers. “During the month of August, high value project cargo was on the move throughout the Great Lakes-St

Diverse Seaway Cargoes Keep U.S. Ports Bustling in July

While July Seaway traffic fluctuated across the various categories, U.S. ports handled a wide range of cargoes in July.   “It was a solid month for our U.S. Great Lakes St. Lawrence Seaway System ports with more ships entering the Seaway System with aluminum, iron ore and salt

US Grain Shipments via St. Lawrence Seaway Up 63%

The Calumet coming into the Port of Green Bay. Photo supplied by the Port of Green Bay.

American grain shipments through the St. Lawrence Seaway are up 63 percent so far this season as ships transport corn to Canada and soybeans for international export, reports the Chamber of Marine Commerce.   According to figures from the St. Lawrence Seaway, U.S

General Cargo Dominates Seaway Traffic in June

Photo courtesy of The Great Lakes Seaway Partnership

June was an active month for U.S. ports receiving a variety of general cargo shipments through the St. Lawrence Seaway. “What’s notable about the June tonnage numbers were increases in the export of U.S. grain to Europe and the import of aluminum and steel to the ports of Cleveland

Two Tugboats Capsize on St. Lawrence River

Photo: LinkedIn

 Two tugboats capsized and sank close to each other on the St. Lawrence River on Monday. They are the latest in a recent flurry of adverse incidents on the waterway.   Witnesses say the first tug tipped over around 4 p.m. while the crew managed to escape before the boat capsized

Tundra Aground in St. Lawrence Seaway

MV Tundra in the St. Lawrence Seaway, Canada. Photo by Canfornav

 The 185 meter long drybulk vessel MV Tundra (30,892dwt, built 2009) owned by Canfornav, part of the Canadian Forest Navigation Group, has run aground overnight on the St. Lawrence Seaway at Lancaster, Ontario in Canada.   The Tundra had veered a short distance out of the shipping

Crashed Cruise Ship Refloated; St. Lawrence Seaway Reopens

MS Saint Laurent. Pic by FleetPro

 The cruise ship MS Saint Laurent has been re-floated, all passengers are safely off and the lock has been re-opened, following the collision on last Thursday.   "Today (Saturday afternoon), the passenger cruise ship Saint Laurent was safely re-floated and exited the Eisenhower

Update: Cruise Ship Strikes Lock in St. Lawrence Seaway

The U.S. Coast Guard’s response to a cruise ship that allided with a concrete wall in the Eisenhower Lock in the St. Lawrence Seaway has continued Friday in Massena, New York.   There were 274 people, including passengers and crew

Cruise Ship Hits St. Lawrence Seaway Lock Wall

A cruise ship struck a lock wall in the Saint Lawrence Seaway upstate New York Thursday night, injuring several passengers, the U.S. Coast Guard reported.   There were 274 people, including passengers and crew, aboard the 286-foot vessel Saint Laurent when the ship allided with a wall in

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright