Home World HFW acts on sale of almost half of Swiss Maritime Fleet

HFW acts on sale of almost half of Swiss Maritime Fleet

Global, sector-focused law firm HFW has acted on the sale of almost half of the entire Swiss maritime fleet.

HFW advised Swiss shipowner Massoel Shipping SA on eight separate vessel sale transactions, representing 40% of all Swiss-flagged commercial maritime vessels.

The firm also provided completion services on each of the transactions, assisting Massoel and the purchasers with closing and the holding of deposit and balance.

HFW’s team comprised Olivier BazinMichael BuissetPatrick Myers, Emma Bud, Francis Walters and Johanna Ohlman, of the firm’s Geneva office.

Olivier Bazin, Partner, HFW:

“We are delighted to have supported Massoel Shipping with these strategic transactions. A number of the closings took place in the height of the Covid-19 outbreak, which required us to solve a number of logistical and legal issues with port lockdowns, restrictions on underwater inspections and crew changes, and of course virtual closing meetings. HFW looks forward to supporting the Swiss maritime fleet in its next phase of development.”

HFW is widely recognised as the world’s leading shipping and maritime law firm, and has been serving clients in the industry for more than 135 years.

The firm has over 200 shipping lawyers and Master Mariners across the Americas, Europe, the Middle East and Asia-Pacific, specialising in dry shipping, admiralty and crisis management, and transactional work, including commercial shipping and yachts.

It represents the full spectrum of those involved in the industry, including shipowners and charterers, P&I Clubs, banks, international agencies, shipyards, marine insurance underwriters, governments and brokers across the entire shipping life cycle, from design to recycling.

In 2020, HFW won the Excellence in Maritime Law award at the Lloyd’s List Global Awards, which recognises the world’s best shipping law firm.

Source: HFW