Norton Rose Fulbright - Experts & Thought Leaders

Global law firm - Norton Rose Fulbright has advised ABN AMRO and National Australia Bank (NAB) on their arrangement of acquisition financing for Celsius Shipping (Celsius) and Basalt Infrastructure Partners (Basalt) to acquire two LNG carriers. Celsius and Basalt formed a new joint venture for the acquisition of the two state-of-the-art vessels – the Celsius Copenhagen and Celsius Carolina – which were built in Korea and operate using the latest, most fuel-efficient propulsion technology. Vanadis LNG platform The vessels are being managed and operated by Celsius, and are the first vessels for Basalt’s new Vanadis LNG platform. ABN AMRO and National Australia Bank jointly structured the bespoke term loan facility for the acquisition, with First Citizens Bank also participating as a lender. Advising team Further support was provided by Amsterdam-based counsel - Mei Land Man, senior associate Tamara Ubink The Norton Rose Fulbright team advising on the deal was led by London-based partners - Andrew Williams and Richard Howley, with assistance from senior associates - Julie Walton and Oliver Webber, and associates - Kenny Lawal and Rebecca Martindale. Counsel Sean Bruns assisted with hedging aspects. Further support was provided by Amsterdam-based counsel - Mei Land Man, senior associate Tamara Ubink, and associate - Martijn Knigge, as well as New York-based partner - Brian Devine and counsel - Julie Pateman Ward. Multi-jurisdictional team Richard Howley said, “We were delighted to be able to assist our clients on this significant and complex financing for Celsius Shipping and Basalt Infrastructure Partners." He adds, "We have advised on several significant LNG carrier financings, and our multi-jurisdictional team worked closely with our clients and the lenders to deliver the financing within a tight timeframe and to achieve a successful result for all parties." Full range of legal services Norton Rose Fulbright provides the full range of legal services to global corporate finance, acquisition finance, and shipping and offshore finance mandates, including to banks, lessors, brokers, owners, and operators worldwide. Its lawyers advise on all aspects of corporate, banking, shipping, and offshore transactions, such as mergers and acquisitions, leveraged finance, complex leasing deals, and ship sales, acquisitions, and charter transactions.

Global law firm Norton Rose Fulbright has advised the lenders, led by Citi, on the financing and subsequent delivery of Royal Caribbean’s latest flagship vessel, “Utopia of the Seas”. The Norton Rose Fulbright team advised on all aspects of the transaction, including the original financing arrangements and, most recently, the delivery of the vessel. The vessel is the latest Royal Caribbean vessel financed under a French ECA-supported receivable purchase financing and post-delivery financing in a total aggregate amount of approximately $1.3 billion. Innovative LNG technology At 236,000 gross tons, “Utopia of the Seas” is the sixth “Oasis Class” cruise ship and is 1,188 feet in length and has a maximum passenger capacity of 7,500, in addition to 2,300 crew. It is also the first “Oasis Class” vessel to be powered by innovative LNG technology. Partner Kirstin Russell and Senior Associate Jessica Sorah advised on related English law aspects The Norton Rose Fulbright London team was led by Global Co-Head of Shipping Simon Hartley and Counsel Matthew Bambury, with support from Associate Rebecca Daniel, and Trainee Solicitor Lucrezia Cavuto. Partner Kirstin Russell and Senior Associate Jessica Sorah advised on related English law aspects. Global Co-Head of Transport Christine Ezcutari led the team advising on French law matters, supported by Senior Associate Ayaka Millet, Associate Emilie Jacques and Trainee Sarah Malegarie. Fulbright’s global shipping team   Simon Hartley commented: “We are delighted to continue to support our longstanding client, Citi, on this important and complex financing, involving multiple jurisdictions and incorporating innovating LNG technology that represents another step along the road to decarbonising the shipping industry. The cruise sector has had a robust start to the year and we are anticipating a strong pipeline of deal activity throughout the rest of 2024 and into 2025.” Norton Rose Fulbright’s global shipping team also holds 10 Tier 1 rankings across legal directories Chambers and Legal 500. Simon and Christine are both ranked as Pioneering Individuals for shipping finance by Legal 500 and Band 1 practitioners by Chambers and Partners and Matthew Bambury is ranked as a rising star for shipping finance.

Global law firm - Norton Rose Fulbright has advised Bibby Marine on a shipbuilding contract to deliver the world’s first truly zero-emission, electric Commissioning Service Operation Vessel (eCSOV). The eCSOV, which will be built at Astilleros Gondán’s shipyard in Asturias, Spain, is expected to be delivered in 2026. Designed in collaboration with UK-based ship designers Longitude, it will feature a powerful battery system, complemented by dual-fuel methanol engines for emissions-free operations.  High-voltage offshore charging The vessel will also feature high-voltage offshore charging facilities for rapid recharging and will have the capability to operate solely on battery power for over 16 hours between charging cycles. The eCSOV project is part of the Zero Emission Vessels and Infrastructure scheme, funded by the UK Department for Transport and delivered by Innovate UK, which seeks to promote the development of technology necessary to decarbonise the UK maritime sector. Shipbuilding contract Norton Rose Fulbright advised Bibby Marine on the negotiation of the shipbuilding contract Norton Rose Fulbright advised Bibby Marine on the negotiation of the shipbuilding contract and related structuring aspects. The team was led by partners - Andrew Williams and Philip Roche, with additional support on specific elements provided by partners - Matthew Hodkin and Miranda Cole, and associate - Julia Kampouridi. Legal services Norton Rose Fulbright’s shipping team offers the full range of legal services needed by shipping companies. Its specialist shipping lawyers advise on areas ranging from complex structured finance, export credit finance, and anti-competitive actions to ship conversion disputes, offshore disputes, the latest environmental regulation, and the impact of blockchain and the digitalisation of the whole industry.