6 April 2023
Watson Farley & Williams (“WFW”) advised Nai Int. Ltd. (“NAI”) on the purchase of eight vessels from Vassholmen Shipping Ltd. (“Vassholmen”) – the “Valcadore”, “Valgardena”, “Valle Azzurra”, “Valle Bianca”, “Valrossa”, “Valsesia”, “Valtellina” and “Valverde”.
The vessels were acquired by NAI as a result of the exercise of the call options provided under the relevant sale and leaseback transaction dated 18 December 2018.
NAI is a Maltese subsidiary of Italy’s Navigazione Montanari group, which specialises in shipping products for the oil and petrochemical sectors. Vassholmen is a subsidiary of Cyprus-based Sole Shipping, which focusses on sale and lease back projects on a bareboat charter basis.
The WFW Italy Maritime team that advised NAI was led by Partner Furio Samela, assisted by Associate Sergio Napolitano and Trainee Anna Palomba.
Vassholmen was represented by lawyers Olav Eriksen and Mats Aas Larsen of Nordisk Defence Club (Nordisk Skibsrederforening).