WFW advises CSSC on two large ropaxes

2023-07-19T19:19:43+00:00 July 19th, 2023|Finance|

Watson Farley & Williams (WFW) has advised CSSC (Hong Kong) Shipping Co regarding two luxury ropaxes, ‘Moby Fantasy’ and ‘Moby Legacy’, operated by Italian ferry company, Moby.

Both vessels were built by China’s Guangzhou Shipyard International and are currently the world’s largest luxury ropaxes. ‘Moby Fantasy’ was delivered in early May, 2023 and ‘Moby Legacy’ will be delivered in late 2023.

They will accommodate up to 3,000 pax and 1,300 vehicles each. The vessels are equipped with hybrid scrubber systems and designed with an option to switch to LNG as a fuel, further promoting reduction in carbon emissions and sustainable shipping.

Established in 2012, CSSC is the first shipyard-affiliated leasing company in the Greater China region and today one of the world’s leading ship leasing companies, providing leasing services to clients with the options of finance lease or operating lease.

CSSC focuses on the provision of ship and marine equipment leasing services and also provides shipbroking services and loan services. Its co-operation with Moby enhances its shipping fleet, allowing it to focus on its core mission of promoting industry and finance.

The WFW Hong Kong Assets & Structured Finance team that advised CSSC was led by Hong Kong Head, Christoforos Bisbikos, supported by Senior Associate, Melissa Hoh in Singapore and Associate Thomas Wan.

WFW Italy Partner, Furio Samela, Senior Associates, Antonella Barbarito and Davide Canepa, and Associate, Noemi D’Alessio advised on the Italian aspects of this transaction.

Bisbikos commented: “We’re excited to have advised our long-standing client CSSC on the successful completion of a complicated sale and leaseback transaction for two luxury ropax ferries, which stands out thanks to both its structure and the unique assets involved.

“It’s a testament to CSSC’s strength in delivering world class vessels of any type and, most importantly, their ongoing commitment to collaborating with international shipping owners. We are proud to have been able to support them on this deal,” he said.