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.


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


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


$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

FOSS_link_logo_V_rgb.jpg

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


EPA Proposes Ban on Sewage Dumping in St. Lawrence River

 The U.S. Environmental Protection Agency (EPA) has determined that a “no discharge zone” can be established for the New York State portion of the St. Lawrence River. The New York State Department of Environmental Conservation petitioned the EPA to prohibit boats from discharging sewage into the river by establishing a “no discharge zone” for the area. The EPA has reviewed the state petition and found that there are adequate facilities around the St


Battered by Waves, British Coastguard Completes Daring Sea Rescue

A British rescue worker was battered by waves but still completed a daring sea rescue after three people got into difficulty on the west coast of England, a video released by British coastguard service on Tuesday showed. Footage shot from a helicopter showed a man clinging to a rock in the sea


Ferbec Officially Joins Canada Steamship Fleet

Photo: Canada Steamship Lines

 Canada Steamship Lines welcomed M.V. Ferbec, a 49,502 DWT conventional geared bulk carrier equipped with four cranes and grabs, which is now fully operational in the Gulf of Saint Lawrence.   The vessel, which previously operated in CSL’s Australian fleet as CSL Melbourne


Cautious optimism returns to North Sea – Deloitte

 Reacting to the latest Oil and Gas UK Economic Report, to be published on Wednesday 6 September, Graham Hollis, Senior Partner for Deloitte in Aberdeen, said: “A cautious optimism has returned to the industry, as it weathers the storm of the past three years


IMO Talks Polar Matters in Russia

Photo: International Maritime Organization (IMO)

 An International Maritime Organization (IMO) film showing how the IMO Polar Code supports safe and environmentally-friendly shipping in the Arctic and Antarctic waters is being screened at the NEVA 2017 International Maritime Exhibition and Conference (19-22 September), in St Petersburg


Coast Guard Begins Operation Spring Restore

U.S. Coast Guard photo by Chief Petty Officer Nick Gould.

Coast Guard aids to navigation teams throughout the Ninth Coast Guard District has begun restoring the Great Lakes and St. Lawrence Seaway aids to navigation system. Slightly more than 11 percent of the operation has been completed so far.


First Ocean Vessel of 2017 Arrives at Port of Indiana

Photo: Port of Indiana-Burns Harbor

The first ocean vessel of the year arrived at the Port of Indiana-Burns Harbor marking the official opening of the international shipping season. Port officials welcomed the 413-foot general cargo carrier BBC Mont Blanc and presented the captain with the Ports of Indiana Steel Stein.


Great Lakes Iron Ore Trade Climbs in April

©  James Pintar / Adobe Stock

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 5.8 million tons in April, an increase of 8.8 percent compared to a year ago, the Lake Carriers’ Association (LCA) reported. Shipments topped the month’s five-year average by nearly 21 percent.  


Spring Cargo Numbers Buoy Great Lakes-Seaway Shipping

The ocean-going vessel Federal Mackinac sails on the St. Lawrence Seaway this autumn. Photo Credit: The St. Lawrence Seaway Management Corporation

Spring cargo numbers from the St. Lawrence Seaway and U.S. ports are signaling a better year for Great Lakes-Seaway shipping. According to the latest figures from the St. Lawrence Seaway, total cargo shipments via the Seaway from the start of the shipping season (March 20 through April 30)


Spring Restored - Coast Guard Finishes Buoy Operations Early

Courtesy Photo: U.S. Coast Guard District 9

 The U.S. Coast Guard completed operation Spring Restore Tuesday, five days ahead of schedule.   Spring Restore involves the re-installment of 1,216 federal navigational aids, including lighted and unlighted buoys and beacons.  


Great Lakes/Seaway Iron Ore Trade Up Slightly in May

© James Pintar / Adobe Stock

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.1 million tons in May, an increase of 1.8 percent compared to a year ago, the Lakes Carriers' Association (LCA) reported. However, shipments trailed the month’s 5-year average by 5 percent.  


Canada Extends St. Lawrence Seaway Agreement

Canadian transport minister Marc Garneau announced a five-year extension to the Government of Canada’s agreement with the St. Lawrence Seaway Management Corporation to manage, maintain and operate the Seaway. This extends the existing agreement until March 31, 2023


US Iron Ore Boosts St. Lawrence Seaway Shipping

© johnsroad7 / Adobe Stock

With strong increases in iron ore and other cargo, total tonnage shipped via the St. Lawrence Seaway is up 20 percent over last year.   The St. Lawrence Seaway Management Corporation reports that cargo shipments from March 20 to June 30 totaled more than 12 million metric tons – up


Great Lakes/Seaway Iron Ore Trade Up in June

© Jim Pintar / Adobe Stock

 Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.7 million tons in June, an increase of 16 percent compared to a year ago, the Lake Carriers' Association (LCA) reported. Shipments also bettered the month’s five-year average by 8 percent.  


Great Lakes/Seaway Iron Ore Trade Up in July

© Jerry Bernard / Adobe Stock

The Lake Carriers’ Association (LCA) reported that shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.4 million tons in July, an increase of 14.7 percent compared to a year ago., yet 2.3 percent below the month’s five-year average.


US Iron Ore Shipments Remain Strong

Photo credit: Mike Gibby Besko

Iron ore, dry bulk cargo and general cargo shipments remain strong on the St. Lawrence Seaway, with overall tonnage up 18 percent over last year.  The St. Lawrence Seaway Management Corporation reports that cargo shipments from March 20 through July 31 totaled more than 16 million metric






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