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WFW advises BPER Banca, CDP, Banca Popolare di Sondrio and SACE on €31.5m Fratelli Cosulich financing Watson Farley & Williams (“WFW”) has advised a consortium of banks comprising BPER Banca S.p.A., Cassa Depositi e Prestiti S.p.A. (”CDP”), Banca Popolare di Sondrio S.c.p.A. and SACE S.p.A., as lenders on a €31.5m loan to Fratelli Cosulich LNG S.r.l. (“Fratelli Cosulich”) to finance the construction of an 8,200mc gas carrier for the supply of LNG bunkering services. The loan, secured by a SACE Green Guarantee, in accordance with the provisions of Italy’s “Simplification Decree”, will cover 70% of the total value of the entire vessel, equivalent to c. US$45m. It will be disbursed by the financing institutions to cover the agreed instalments due to Chinese shipyard Nantong CIMC Sinopacific Offshore & Engineering Co. Ltd. ....
China s CIMC to build LNG bunker vessel for Fratelli Cosulich Italian shipping company Fratelli Cosulich has placed an order for an LNG bunkering vessel at China s CIMC SinoPacific Offshore & Engineering shipyard, it said on May 10. The vessel with approximately 5,300 metric tons of dwt will be able to transport over 8,000 m 3 of LNG and 500 m 3 of marine gas oil for bunkering. It will be equipped with Wartsila propulsion and power generation systems. Its investment cost is $45mn, the company said. “This important investment reaffirms the group’s commitment to safeguard the environment and to operate with absolute safety,” the company said. “Our efforts are focused on decreasing our footprint, and on contributing to the infrastructure for the entire shipping and logistics sector.” ....