Watson Farley & Williams (WFW) - Experts & Thought Leaders

Watson Farley & Williams (“WFW”) advised shipping company - MPC Container Ships ASA (“MPCC”) on two significant transactions aimed at the long-term optimisation and modernisation of its fleet. MPCC contracted China’s Taizhou Sanfu Ship Engineering to build six 3,700 TEU container ships, with the first delivery scheduled for H2 2028. The newbuildings have been chartered on a long-term basis, with extension options, to a pioneering global liner shipping company. Flexible deployment options The vessels are based on a modern, energy-efficient design optimised for regional and feeder traffic and offer flexible deployment options. They are also prepared for alternative fuels and advanced emission reduction technology. Additionally, MPCC has agreed to sell the container ship AS Clementina as part of its ongoing fleet modernisation programme. Handover is expected at the end of Q2 2026, once the existing charter agreement has expired. Both transactions support the company's strategy of structurally rejuvenating its fleet, leveraging efficiency potential and building sustainable capacity. Focus on small to medium-sized vessels Oslo-based MPCC is a pioneering container ship owner with a focus on small to medium-sized vessels. It primarily owns and operates a portfolio of container ships serving regional trade routes under long-term charter agreements. The WFW Maritime team that advised MPCC was led by Hamburg Corporate Partner Dr Christian Finnern, supported by Associates Maximilian Hennig and Bjarne Ruthke. Hamburg partner Dr F. Maximilian Boemke advised on regulatory matters, with London Partners Joe McGladdery and Charles Buss providing English law expertise. Long-term market and regulatory requirements Christian commented: “We are delighted to have once again advised MPCC on an important step forward in its fleet modernisation programme. Throughout this year, we have represented them on a series of highly relevant transactions to support this." "These latest deals show how modern newbuildings and forward-looking portfolio optimisation complement each other perfectly to meet long-term market and regulatory requirements”.

Watson Farley & Williams (“WFW”) advised Okeanis Eco Tankers Corp. (“Okeanis”) on its successful offering of about 3.2m new shares of common stock, raising approximately US$ 115m. Proceeds from the offering will be used as partial consideration for the acquisition of two newbuild Suezmax vessels currently under construction at Daehan Shipbuilding Co. in the Republic of Korea. The transaction attracted strong investor demand, and the shares were issued at price above net asset value. Following issuance and settlement, the new shares will be able to be traded on the New York and Oslo Stock Exchanges. Fleet of modern tanker vessels Okeanis is an international tanker company active in the crude oil shipping sectors. It owns, charters out and manages a fleet of modern tanker vessels. The WFW New York Maritime team that advised Okeanis was led by Capital Markets Partner Steven Hollander, supported by Partners Filana Silberberg and Will Vogel, Counsel Todd Johnson, Senior Associates Ioanna Pantelaki and Haris Kazantzis, and Associate Lucie Couillard Sosa. Significant milestone Steven commented: “We’re delighted to have advised Okeanis on a transaction that represents another significant milestone in its strategic plans. Issuing shares above net asset value reflects strong market confidence in the company’s outlook, and we look forward to continuing to support them going forward.” Iraklis Sbarounis, Chief Financial Officer of Okeanis, stated: “We are grateful for WFW’s support in successfully concluding this important transaction. Steve and his team worked tirelessly and effectively, within a short timeframe, and were instrumental in getting this through the finish line.”

Watson Farley & Williams (“WFW”) advised shipping company - MPC Container Ships ASA (“MPCC”) on the order of four new container ships with long-term charter agreements. The contracts for the construction of the four 4,500 TEU vessels at a price of US$58m each were signed with Chinese shipbuilder Jiangsu Hantong Ship Heavy Industry Co. Ltd. Delivery is scheduled for H1 2028, with options for two additional vessels at the same price. The vessels ordered will be tailored to the charterer's requirements and sustainability goals and equipped with state-of-the-art energy-efficient technology. This will reduce slot costs by approximately 50% as MPCC continues to modernise its fleet. 10-year time charter agreement Each vessel will be operated under a 10-year time charter agreement with extension options for a major global liner shipping company, with this initial period expected to generate approximately US$375m in revenue. Oslo-based MPCC is a pioneering container ship owner with a focus on small to medium-sized vessels. It primarily owns and operates a portfolio of container ships serving regional trade routes under long-term charter agreements. The WFW Maritime team that advised MPCC was led by Hamburg Corporate Partner Dr Christian Finnern, supported by Associates Maximilian Hennig and Bjarne Ruthke. Hamburg partner Dr F. Maximilian Boemke advised on regulatory matters, with London Partners Joe McGladdery and Charles Buss providing English law expertise. Long-standing relationship with MPCC Christian commented: “This transaction is another milestone in our long-standing relationship with MPCC.” He adds, “This order for four energy-efficient container ships with long-term charter agreements demonstrates how strategic investments secure competitiveness and sustainability in the maritime industry. We are delighted to have supported MPCC on the legal structuring and execution of this complex project.”