Thomas Cooper advises on the acquisition, financing (Euro 4.7 million) and registration of a new Damen Shoalbuster® 2709
- Ship Owners, Ship Finance and Acquisition, London, Rotterdam.
Thomas Cooper has advised a major UK based marine engineering firm on its acquisition, financing and MCA first registration of the above sea going tug, dredging and general support vessel. The transaction was the first commercial shipping financing for a major UK retail and commercial bank post the 2008 financial crisis.
Thomas Cooper’s client currently operates in the various maritime sectors in the UK, Eire, and N.W. Europe including but not limited to marine civil engineering and construction, marine heavy lift with floating sheerlegs (drijvende bokken), dredging, marine and offshore demolition, salvage and wreck removal, international, coastal and harbour towage and transport of goods by barge. Its most recent successes include providing the heavy lifted equipment responsible for the successful raising for the World War II German Dornier 17z bomber from the Thames Estuary sea bed.
This new acquisition greatly enhances the client group’s capacity in this growing market sector both nationally and internationally.
This is the third consecutive vessel acquisition or disposal transaction in which Thomas Cooper’s (London) Finance Group has advised this client. Previously, the same team advised another European client in the same sector on its entire fleets’ (Euro 125 million) refinancing involving two of the major European banks and with a security package that covered the client’s multi jurisdictionally flagged fleet.
The Thomas Cooper team was led by managing solicitor Simon Murfitt who was supported by solicitor Alexandra Shipulina and Claire Hammersley.