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

Watson Farley & Williams (WFW) advised Globus Maritime Limited on their US$ 28 million sale and leaseback of newbuild bulk carrier m.v GLBS MIGHT with a Japanese leasing house. This is Globus' first sale and leaseback transaction, with the US$ 28 million being made available under a ten-year capital sale & leaseback arrangement. Athens-based Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide with a current fleet of eight dry bulk vessels comprising four Kamsarmax, one Supramax and three Ultramax vessels. It is listed on the Nasdaq Capital Market. WFW Athens Maritime team The WFW Athens Maritime team that advised Globus Maritime was led by Partner - Vassiliki Georgopoulos, supported by Counsel - Georgia Asimakopoulos and Associates - Angelos Michas and Stavroula Giannopoulou. Vassiliki Georgopoulos commented: "We are delighted to have acted for Globus on its first ever sale and leaseback transaction. This deal highlights our team’s unrivalled ability to deliver high quality legal services to our clients on complex matters."

Watson Farley & Williams (“WFW”) advised Industrial Bank Financial Leasing Co., Ltd. (“CIBFL”) on a leasing transaction for two liquified natural gas carriers. Upon delivery, the vessels will be bareboat chartered to a disponent-owner and sub-chartered to a Middle East charterer on a long-term basis. Delivery of the vessels Unlike conventional sale and leaseback transactions where the lessors enter into Memorandum of Agreements (“MOAs”) with the lessees and take delivery of the vessels pursuant to the MOAs, CIBFL entered into the shipbuilding contracts with the Korean shipyard and will take delivery of the vessels as purchasers under the shipbuilding contracts. In addition to advising CIBFL on the terms and conditions of the conventional leasing documents, WFW negotiated on their behalf for bespoke direct agreements to supplement the shipbuilding contracts. Important LNG leasing transaction CIBFL, a subsidiary of Industrial Bank Co., Ltd., provides direct financial leasing, leaseback, supplier leasing and other leasing services. They also service customers in the energy, modern service, chemical, equipment manufacturing and other sectors. The WFW Hong Kong Assets Structured and Finance team that advised CIBFL was led by Partner - Guan Jian, supported by Associate Catherine Tse and Legal Manager - Sean Feng.  Lead Partner - Guan Jian commented: "We are delighted to have advised CIBFL on this important LNG leasing transaction which represent an important a step towards promoting clean energy and sustainability within the shipping sector. The successful completion of the transaction highlights our team’s expertise in handling unconventional leasing transactions."

Watson Farley & Williams (“WFW”) advised Bank of Communications Financial Leasing Co., Ltd. (“BOCOM Leasing”) on a leasing transaction for three liquified natural gas carriers. Upon delivery, the vessels will be bareboat chartered to a disponent-owner and sub-chartered to a Middle East charterer on a long-term basis. Korean and Chinese shipyards Unlike conventional sale and leaseback transactions where the lessors enter into Memorandum of Agreements (“MOAs”) with the lessees and take delivery of the vessels pursuant to the MOAs, BOCOM Leasing entered into the shipbuilding contracts with the Korean and Chinese shipyards, and will take delivery of the vessels as purchasers under the shipbuilding contracts. In addition to advising BOCOM Leasing on the terms and conditions of the conventional leasing documents, WFW negotiated on their behalf for bespoke direct agreements to supplement the shipbuilding contracts. BOCOM Leasing BOCOM Leasing, a wholly owned subsidiary of Bank of Communications, is a pioneering player in China’s leasing industry and one of the first five financial leasing companies approved by the State Council. The WFW Hong Kong Assets Structured and Finance team that advised BOCOM Leasing was led by Partner - Guan Jian, supported by Associate - Catherine Tse and Legal Manager - Sean Feng.  Guan Jian commented: "We are delighted to have advised BOCOM Leasing on this significant transaction involving LNGs, which is a step towards promoting clean energy and sustainability within the shipping sector."