A promissory note, in its simplest form, is an instrument by which a Borrower (the Maker) acknowledges its obligation to repay the Lender (the Payee). Historically, Lenders required Borrowers to enter into both a credit...more
Background -
In recent years, one of the emerging financing methods for public and private vessel owners has been private placements of debt securities, wherein a company usually owning multiple vessels will sell...more
According to the International Maritime Organization (IMO), the shipping industry currently accounts for 2.2% of global emission of greenhouse gases (GHG), with the potential, if left unregulated, to increase 50-250% by 2050....more
Much as one puts down earnest money in advance of closing on a home, or a lump sum down when buying a car, the buyer of a large commercial vessel will often lodge all or part of the purchase price with an escrow agent to...more
The winds of change are coming for the nascent U.S. offshore wind industry, with several large projects scheduled to come online before 2030. Major commercial and governmental entities expect offshore wind will be big...more
EEXI and CII - What Are the Implications for Vessel Owners and Lenders? Background The International Maritime Organization (“IMO”) adopted MARPOL Annex VI in 1997 to limit air pollutants commonly associated with vessel...more
Background -
Almost a year to the day after the EVER GIVEN blocked the Suez Canal, making global headlines and focusing the general public’s attention on the world of shipping, bad news struck the EVER GIVEN’s parent...more
6/16/2022
/ Boating Accidents ,
Borrowers ,
Business Interruption ,
Business Losses ,
Financial Distress ,
Lenders ,
Loans ,
Loss of Income ,
Maritime Transport ,
Risk Mitigation ,
Shipping ,
Shipping Cargo ,
Supply Chain ,
Vessels