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Watson Farley & Williams (“WFW”) has advised a US-based bank, acting as lender, facility agent and security agent, on a US$22m loan facility to Madison Marine Corp. for the part refinancing of five 4,000-teu container vessels. All five vessels are covered by charters with a leading container liner company. The cross-border WFW Maritime team that .
May 13 2021 Watson Farley & Williams (“WFW”) has advised Euromont Shipping Company S.p.A. (“Euromont”) and Navigazione Montanari S.p.A. (“Navigazione Montanari”) on c.€35m loan granted by illimity Bank S.p.A. (“illimity”) for the renewal of Navigazione Montanari’s fleet. The six-year loan is backed by Italian export credit agency SACE through its “Garanzia Italia” facility and was partly used by Euromont for the purchase of two product tankers, both of which were built in 2013 in South Korea and originally flew the Singapore flag. The vessels are currently registered in the Genoa International Register as the “Valle Luna” and “Valle Sole” and are equipped with electronic engines that regulate combustion to minimise atmospheric pollution.
By Cirium2021-05-12T03:22:00+01:00
Two major Thai airlines, Thai Airways International and Nok Air, are at different stages of putting together business reorganisation plans outlining how they will restructure their businesses under court protection and emerge stronger from the Covid-19 pandemic.
But a recent surge in virus cases in the Kingdom looks likely to scupper the country’s plans to reopen to tourists this year – something airlines had been banking on to lead them out of the downturn.
Moreover, a huge viral surge in India has put paid to hopes of being able to accept visitors from that key tourism market, while China’s conservative approach to reopening borders could largely seal off a second major tourism market for many months to come.
New Neptune Declaration Crew Change Indicator takes the temperature of the crew change crisis
Data from top 10 ship managers on their seafarers is the basis of an indicator which provides up-to-date information on the impact of the crew change crisis and will allow for the monitoring of developments over time. The Neptune Declaration Crew Change Indicator is part of the ongoing efforts that a multi-stakeholder taskforce is undertaking to resolve the situation.
Well into the second year of the coronavirus pandemic, the crew change crisis remains unresolved. Despite the concerted efforts by international organizations and companies, seafarers are still unable to disembark from vessels while new strains of Covid-19 create a risk of making the situation worse. Currently, data that gives access to the number of seafarers who are impacted by the crew change crisis is limited. The new Neptune Declaration Crew Change Indicator aims to inform the situation.