Shipping industry faces regulatory uncertainty as member states adjourn adoption for one year.

The combination of strong cash flow in the shipping market and continued uncertainty related to regulatory requirements, fuel standards, and sustainability means that the focus on future-proofing investments continue to increase.

Refund Guarantees secure repayment to the buyer of the pre-delivery instalments paid under a shipbuilding contract (an “SBC”) in the event of termination of the SBC due to builder’s default or insolvency or the total loss of the ship under construction. Having the benefit of a refund guarantee is therefore of key importance to the buyer under a shipbuilding contract.

The hydrogen industry is undergoing rapid development, in particular due to the ever-increasing focus on reducing the carbon footprint and emissions across all businesses and industries. Hydrogen has a wide range of applications, and projects of various scales are being developed to cater for the varying local- and end-users’ needs. As a result, a variety of contractual frameworks and structures will likely emerge – both on a project-by-project basis and regarding the hydrogen value chain as a whole.

BIMCO and the Association of Ship Brokers & Agents (“ASBA”) recently released a dedicated gas tanker voyage charterparty, the ASBAGASVOY 2020. The form is a based on the well-established ASBATANKVOY form for product tankers and has been developed in response to the growth of the gas spot market.

The downturn in the offshore markets has clearly been deeper and longer lasting than had originally been expected following the collapse of the oil price back in 2014. This article takes a brief look at the current situation and at some of the contracting solutions that we are seeing in these markets.

Most of those involved in the shipping industry will by now have a clear picture of the requirements under the IMO 2020 global sulphur cap on marine fuels. Attention has therefore turned to the steps that need to be taken to put those requirements into practice. Two clauses recently introduced by BIMCO are aimed at addressing certain contractual aspects of the IMO 2020 requirements as they apply to time charterparties.

Finansiering

Engelsk rett

Offshore

Fornybar energi og grønne investeringer

Restrukturering, konkurs og insolvens

Bærekraft, klima og miljø

Shipping

Partner

Mads har erfaring med rådgivning knyttet til joint venture-strukturer, bygge- og ombyggingskontrakter, salg og kjøp, befraktning, operasjon og drift av borerigger, skip og andre offshoreenheter.

Mads har også erfaring fra LNG-sektoren, inkludert FSRU- og FLNG-prosjekter, og har tidligere jobbet for et ledende LNG-rederi. Han har i tillegg bistått klienter  med transaksjoner innenfor brønnbåt- og havbruksnæringen, samt M&A-transaksjoner. 

Mads har også erfaring innen restruktureringer og omorganiseringer, og har nylig arbeidet med en større restrukturering innen maritim sektor. 

Han har tidligere jobbet på Wikborg Reins London-kontor i flere år og er kvalifisert som advokat både i Norge og England & Wales.

Oslo

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Mads har erfaring med rådgivning knyttet til joint venture-strukturer, bygge- og ombyggingskontrakter, salg og kjøp, befraktning, operasjon og drift av borerigger, skip og andre offshoreenheter.

Mads Ødeskaug

Senioradvokat (Solicitor of the Senior Courts of England and Wales)

Fast advokat (Solicitor of the Senior Courts of England and Wales)

Associate (Solicitor of the Senior Courts of England and Wales) London/Oslo

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Artikler på wr.no

IMO’s ”Net-Zero Framework” postponed following failed vote

How to future-proof your newbuilding project

BIMCO standard form refund guarantee for shipbuilding contracts

Marine transportation solutions and applications of hydrogen – contractual considerations for hydrogen projects and the hydrogen value chain

ASBAGASVOY 2020 – a new voyage charter for gas tankers

Contractual options for stranded assets