Watson Farley & Williams (WFW) - Experts & Thought Leaders

Watson Farley & Williams (WFW) advised the Eurazeo Sustainable Maritime Infrastructure ('ESMI') fund on a sale and lease back transaction to be entered into with Mainport Shipping Ltd ('Mainport') for the pre- and post-delivery lease financing of the hybrid survey and ROV support vessel - 'Geo Master'. The vessel is currently under construction at Neptune Construction B.V., a shipyard in the Netherlands. Supporting the growing European offshore wind market, the vessel is scheduled for delivery in the first quarter of 2026 and will be put on a long-term time charter to N-Sea Group. Latest standards in fuel efficiency Meeting the latest standards in fuel efficiency and emissions and being able to run on biofuel, the Geo Master will be a new and important contribution to N-Sea Group’s planned expansion. The ESMI fund focuses on investing in sustainable maritime infrastructure projects and is advised by Elbe Financial Solutions. With this new investment, it has achieved 75% of deployment and is actively preparing the launch of a second vintage ESMI II fund which aims to achieve its first closing mid-2025. Integrated solutions for subsea N-Sea Group delivers integrated solutions for subsea infrastructure and assets Founded in 1957, Mainport is an Irish marine services business that charters support vessels to geo-data specialists across the international offshore energy sector. It also provides towage services for ports in the Shannon Estuary. Headquartered in the Netherlands, N-Sea Group delivers integrated solutions for subsea infrastructure and assets. The cross-border WFW Assets and Structured Finance team that advised the ESMI fund was led by Paris Partner - Alexia Russell, assisted by London Associate - Parit Patani. WFW's commitment Alexia Russell commented, "We are very pleased to have assisted Eurazeo Sustainable Maritime Infrastructure on another successful leasing transaction. Our client's instruction is another excellent example of WFW's commitment to acting on and promoting sustainable finance transactions within the maritime sector." RDJ and TRIP Advocaten Notarissen acted as ESMI fund’s Irish and Dutch legal counsel, respectively. Addleshaw Goddard advised Mainport.

Watson Farley & Williams ('WFW') advised Euromont Shipping Company S.p.A. ('Euromont'), as seller, and Navigazione Montanari S.p.A. ('Navigazione Montanari'), as bareboat charterer, on the sale and leaseback of oil chemical tankers - 'Valleblu' and 'Valturchese' to two Japanese leasing companies. The Valleblu, originally under the International Ship Registry held with the Port Authority of Trieste, is currently registered by new owner - Kimura Shoji/Kt Neo Marine under the Panama Ship Registry. The Valturchese, originally under the Malta Ship Registry, is currently registered by new owner - Iyo Nassen/Orange Iyo under the Panama Ship Registry. Shipping products for the oil sectors Navigazione Montanari registered both vessels with the Italian Bareboat Registry held by the Port Authority of Trieste. Founded in 1889 and headquartered in Fano, Italy, Navigazione Montanari specialises in shipping products for the oil and petrochemical sectors. The WFW Maritime Italy team that advised Euromont and Navigazione Montanari on the drafting and negotiation of all documentation was led by Partner Furio Samela, assisted by Associate Sergio Napolitano. London Partner Patrick Smith advised on the English law aspects of the transaction.

Watson Farley & Williams (“WFW”) advised Viking Ocean Cruises (“Viking”) on the delivery of the ocean ship - 'Viking Vela' from Fincantieri's Ancona shipyard, Italy. The 'Viking Vela', the 11th ship delivered to Viking by the Fincantieri Group, is built according to the latest navigation and safety regulations. It is also equipped with high-efficiency engines and systems that minimise the pollution of exhaust gases and that meet the strictest environmental requirements. Future ocean ships Viking is working on a project for a partial hybrid propulsion system for future ocean ships Viking is working on a project for a partial hybrid propulsion system for future ocean ships based on liquid hydrogen and fuel cells, which could allow the company to operate at zero-emission in the Norwegian fjords and other sensitive environments. The Viking Vela has been designed with the future in mind, ensuring she can be retrofitted to incorporate this new technology as it becomes available. With a gross tonnage of about 54,300 tons, 499 staterooms and a capacity of 998 guests, the 'Viking Vela' is classified as a small cruise ship, as are all Viking Ocean ships. WFW Italy Maritime team Viking Ocean Cruises is part of Viking Cruises which operates a fleet of nearly 100 ships providing river, ocean, and expedition cruises worldwide. The WFW Italy Maritime team advising Viking on the delivery was led by Partner Michele Autuori, assisted by Associate Sergio Napolitano.