Watson Farley & Williams
Watson Farley & Williams News
Ardmore Snags $350m Revolving Credit Facility
Watson Farley & Williams (“WFW”) advised a consortium of lenders comprising Nordea Bank Abp, filial i Norge (“Nordea”), acting as facility and security agent, Skandinaviska Enskilda Banken AB, ABN AMRO Bank N.V. and Danske Bank A/S on a US$350m revolving credit facility provided to Ardmore Shipping Corporation (“Ardmore”) to refinance Ardmore’s existing revolving credit facilities and for general corporate purposes.
WFW Advises MPCC on $260m Fleet Optimization
Watson Farley & Williams (WFW) advised MPC Container Ships ASA (MPCC) on two transactions as part of the implementation of its fleet strategy.The first transaction was the order of four new 4…
The Strait of Hormuz: How to Deal With Contractual Issues, Rights and Obligations
IntroductionThe increase in geopolitical tensions in the Middle East recently resulted in Iran threatening to close the strategically vital Strait of Hormuz (the “Strait”) to international shipping. Inevitably, this led to considerable concern over the impact that the closure of the Strait (or attacks on vessels passing through the Strait) would have on the flow of goods and energy products, as well…
Watson Farley & Williams Advises MPCC on Container Ship Sale
Watson Farley & Williams (WFW) advised shipping company MPC Container Ships ASA (MPCC) on its sale of seven container ships for a transaction value of US$94 million. The disposal is part of MPCC's strategic development and the targeted restructuring of its fleet.MPCC has agreed to sell five ships en bloc to Contships Group, comprising three 1,300 TEU ships and two 2,000 TEU ships. In addition, two…
USTR Implements Port Fee Proposal
On April 17, 2025, the Office of the US Trade Representative (“USTR”) published a notice of action (the “USTR Notice”) implementing its port fee proposal, first announced on February 21, 2025. The rules differ substantially from the February proposal (summarized here). The calculation of the fees has changed to a net tonnage-based fee (or for certain vessels, based on containers discharged or Car Equivalent Units). Several points have been clarified.
Hapag-Lloyd AG v Skyros Maritime Corp: Late Redelivery and Lost Opportunities
The English Commercial Court (the “Court”) has provided helpful clarity on the extent of damages available to a claimant shipowner for the late redelivery of a vessel under a time charter where there is evidence that the owner of the vessel would have been unable to enter into a subsequent charter for the vessel. In such circumstances, only nominal damages will be recoverable, as no actual loss has…
Proposed USTR Fees on Chinese Shipping: What you Need to Know Now
On February 21, 2025, the Office of the US Trade Representative (UST) released a notice of a proposal to impose wide-ranging fees on shipping companies and vessels with a Chinese nexus. The USTR has yet to release regulatory or administrative language that implements the proposals, and there is no guarantee this will actually happen. Interested parties should consider submitting comments as well as…
Financing and Bankability of Offshore Wind Vessels
In our first article we highlighted some of the key contractual considerations facing shipowners looking to construct and charter offshore wind vessels. In this article we explore some of the considerations concerning the financing and bankability of offshore wind vessels. We have seen a diverse group of financiers interested in financing vessels in the offshore wind sector and, while the nature of the financing available will depend to a large extent on the employment of the vessel…
Macheras Named WFW Global Maritime Sector Co-Head
Law firm Watson Farley & Williams (WFW) announce it has named partner George Macheras as its new global maritime sector co-head, replacing Lindsey Keeble as she takes up the role of WFW managing partner as of February 1. Paleokrassas, who takes on the role of WFW senior partner on the same date, will remain in his role as global maritime sector co-head.Macheras, who made partner in 2018, advises on all aspects of ship financing as well as on commercial matters relating to the sale…
WFW Announces New Athens Office Head
Watson Farley & Williams (WFW) announced that, following the election of George Paleokrassas as the firm’s senior partner, partner Alexia Hatzimichalis will be taking over as Athens office head.Hatzimichalis, who joined the firm in 2001 and made partner in 2014, also heads the assets and structured finance team in Athens. Qualified in England and Wales, originally as a barrister and then as a solicitor…
WFW Advises Ridgebury, Tufton on Suezmax Acquisition
Watson Farley & Williams, international law firm based in London, advised Ridgebury Tankers and Tufton Oceanic on the acquisition of two Suezmax tankers in a 50%…
WFW Advises on Race Bank Wind Farm Deal
Watson Farley & Williams (WFW), an international law firm based in London, said that it has advised Race Bank Wind Farm Limited on its USD 608 million sale of transmission…
TRIG Acquires French Wind Farms
UK-based investment fund The Renewables Infrastructure Group (TRIG) has acquired stakes in four French onshore windfarms, with a total capacity of 107.8 MW. InfraRed’s…
WFW Advises MPC Container Ships Major Scrubber Acquisition Order
London-based international law firm Watson Farley & Williams advised MPC Container Ships ASA (MPCC) on its acquisition of exhaust gas cleaning systems, also known as scrubbers…
WFW Advises ING Bank on USD 220mln Nine Vessel Financing
Watson Farley & Williams (WFW) has advised ING Bank, London Branch (ING) in connection with a US$87m increase to a US$131m loan facility originally granted to Latsco…
