HFW advises Tristar Transport

Jun 26 2015

HFW Partner Tony Rice and Senior Associate Aysha El-Kaddah recently acted for Tristar Transport in relation to the limited recourse operating lease financing of six MRs currently under construction.

When delivered, they will be timechartered to Shell on long term Shelltime charter forms.

The financing comprised both senior, junior and Tristar equity tranches. The senior tranche was provided by a syndicate of Middle Eastern and Australian banks. The value of the vessels on maturity was underwritten by Ironshore Specialty Insurance pursuant to individual residual value insurance policies.

HFW's role included negotiating the shipbuilding contracts, timecharters, RVI policies, operating leases and other financing documents, as well as the ‘Shell Quiet Enjoyment Letters’ with Shell and the financing banks.

Previous: Nigerian repair hub for large tankers

Next: Coldharbour wins USCG AMS approval

Aug-Sept 2022

MEPC78 and tankers - AET - ESG reporting - Tanker Operator Athens report: SIRE 2.0 and seafarer shortage - electric propulsion on tankers