Watson Farley Williams (WFW) has advised Norway-based shipping company MPC Container Ships (MPCC) on strategic vessel acquisitions and sales worth around US$200 million.
These transactions include disposing of the 2,800 TEU container ships Cimbria and Cardonia for US$42.5 million and the 4,200 TEU AS Emma (2010) for US$22 million. In return, MPCC acquired the 2,200 TEU Queen Esther and four 1,750 TEU boxships, London Trader, Trieste Trader, Madrid Trader and B Trader, from Britain’s Lomar Shipping for US$136.3 million.
The WFW Hamburg Maritime team that advised MPCC was led by WFW Germany Head and Partner Dr. Christian Finnern, supported by Managing Associate Peter Grass and Associate Maximilian Hennig. London Dispute Resolution Partner Charles Buss advised on English law matters.
Dr. Christian Finnern commented, “It was a pleasure to assist our long-standing client MPCC in a very dynamic market. From a legal point of view, various factors had to be reconciled including the expectations of several global stakeholders, the increasing sustainability requirements for shipowners especially regarding CO2 emissions and ensuring sensible investment decision were made given assets available in the market. The successful completion of this deal once again demonstrates WFW’s outstanding expertise in handling complex international transactions in the shipping sector.”