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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

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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


SLSDC Proposed

The US Saint Lawrence Seaway Development Corporation (SLSDC), in conjunction with the St. Lawrence Seaway Management Corporation (SLSMC) of Canada, proposes to amend the St. Lawrence Seaway Regulations and Rules. The proposed changes would update the following sections of the Regulations and Rules: Condition of Vessels; Seaway Navigation; and Information and Reports. The SLSDC is seeking to harmonize the ballast water requirements for vessels transiting the US waters of the Seaway with


Maersk Says Iran Tells it of Cargo Dispute but Cannot Confirm

Maersk said on Wednesday Iranian authorities had told it the Maersk Tigris vessel had been seized over an unresolved claim, but as it had not received any documents it could not confirm this had been the reason for Iran's actions.   Iranian patrol boats on Tuesday fired warning shots as


Seized Ship Being Escorted to Iran's Bandar Abbas

A cargo ship seized by Iran's Revolutionary Guards forces is being escorted to the Iranian port of Bandar Abbas after it was approached in international waters, the shipping line which is hiring the vessel said on Tuesday.   "According to our information the vessel is currently being


Iran: Revolutionary Guards Seized Ship for Legal Reasons

Naval units from Iran's elite Islamic Revolutionary Guards Corps (IRGC) seized a cargo ship in the Gulf on Tuesday for legal reasons, an IRGC source was quoted as saying by state news agency IRNA.   The report, which described the ship as "an American cargo vessel with a Marshall


Ship Management Says Concerned for Crew After Iran Fires Shots

Rickmers Shipmanagement, the Singapore-based company that has chartered the Maersk Tigris, said Iranian officials fired warning shots at the container ship and boarded it on Tuesday.   Spokesman Cor Radings told Danish TV2 news channel the company was concerned for the 24 crew members on


Iranian Navy Seized Ship Under Court Order -Fars

The Iranian navy seized a ship on Tuesday at the request of Iran's Ports and Maritime Organization, the English-language service of Iran's semi-official Fars News Agency reported.   "The ship is a trade vessel and has been seized by the Iranian navy," said Fars


Ship Incident in Gulf Does Not Have Political Dimension -Iran Agency

An incident involving a cargo vessel in the Gulf on Tuesday has no military or political dimension, Iran's semi-official Tasnim news agency reported an unidentified source as saying.   "This has no relation to military or political matters


Roxtec Seals for Floating Tidal Turbine

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Roxtec provided its waterproof sealing solution to what is called  the largest and most powerful tidal turbine in the world. Roxtec UK managing director Graham O’Hare said the deal with Scotrenewables Tidal Power Limited involved Roxtec supplying the new SR2000 2MW floating turbine


New Hires at Great Lakes Towing, Shipyard

Graham Gajewski

The Great Lakes Towing Company & Great Lakes Shipyard announced this week that it has made two new hires. Graham Gajewski has been named naval architect, reporting to Jonathan Leivo, director of engineering, and Patrick Owens has been named operations coordinator, reporting to Lindsay Dew


Bulk Carrier in St. Lawrence Seaway Refloated

U.S. Coast Guard photo

Vessel previously grounded in St. Lawrence Seaway refloated, navigational channel open. The vessel ran hard aground after suffering a steering casualty, and at this time there is no pollution reported. The motor vessel Juno, a 621-foot bulk carrier which ran agound in the vicinity of Wellesley


Response to Grounded Bulker Ongoing

The motor vessel Juno, a 621-foot bulk carrier, sits aground under Thousand Islands Bridge near Alexandria Bay, N.Y., April 20, 2015. The vessel ran hard aground after suffering a steering casualty, and at this time there is no pollution reported. (U.S. Coast Guard photo)

UPDATE: U.S. Coast Guard responding to vessel aground in St. Lawrence Seaway   The U.S. Coast Guard reports it is continuing its response Tuesday to a 621-foot bulk carrier which ran aground in the vicinity of Wellesley Island in the St


First Ocean Vessel of 2015 Arrives at Port of Indiana

M/V Irma (Photo courtesy of Ports of Indiana)

Northwest Indiana celebrates opening of gateway to global markets   The arrival of the 655-foot bulk carrier M/V Irma at the Port of Indiana-Burns Harbor signals the official opening of the port’s international shipping season. Port officials welcomed 2015's first ocean vessel on


Bulk Carrier Grounds in St. Lawrence Seaway

Motor vessel Juno, a 621-foot bulk carrier, sits aground under the Thousand Islands Bridge near Alexandria Bay, New York, April 20, 2015. (U.S. Coast Guard photo)

A 621-foot bulk carrier ran aground near Wellesley Island in the St. Lawrence River, Monday. The U.S. Coast Guard (USCG) is responding.   The Bahamian-flagged motor vessel Juno is aground in the vicinity of Wellesley Island, in the St


Fednav Orders 12 Ballast Water Treatment Systems

Photo: Fednav

Fednav Limited, a Canadian operator of international ships in the Great Lakes-St. Lawrence Seaway system, announced an order for 12 ballast water treatment systems to equip its ships currently under construction.   According to the shipper


Officials Call for Freight Infrastructure Investment

Rep. Lowenthal to Head ‘Call to Action’ on Critical Need for Long-term Freight Infrastructure Funding; Congress Members and Goods Movement Stakeholders to Address National Need   Congressman Alan Lowenthal (CA-47) will be joined by Rep


New Fuel Management System Launched

Photo: Royston

Diesel power engineering specialist Royston has introduced a next generation version of its Enginei fuel management system.   According to the developer, the new integrated system, with a range of enhanced fuel data analysis and reporting options






 
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