The Trump Administration has added further uncertainty to the already unclear future of fees to be imposed on vessels calling at US ports by proposing a new "universal infrastructure or security fee" to be imposed on all non US-built vessels.

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.

English Law

Environment, Climate, and Sustainability

Financing

Offshore

Renewable Energy and Green Investments

Restructuring, bankruptcy and insolvency

Shipping

ECM/DCM

Oil and gas

Shipping Offshore

Partner

Mads has experience in advising clients on joint-venture structures, construction and conversion contracts, sale and purchase, chartering, management and operation of drilling rigs, ships and other offshore units. 

Mads has significant experience in the LNG sector, including with respect to FSRU and FLNG projects, having previously worked for a leading international LNG shipping owner and operator. 
In addition, he has advised clients on several transactions within the wellboat and aquaculture industries. 

Mads also has experience from business restructurings and reorganisations, having recently worked on a major restructuring within the maritime sector, as well as M&A transactions. 

He previously worked in Wikborg Rein's London office for several years and is dual qualified as a Norwegian lawyer and a Solicitor of England & Wales.

Oslo

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Mads has experience in advising clients on joint-venture structures, construction and conversion contracts, sale and purchase, chartering, management and operation of drilling rigs, ships and other offshore units.

Mads Ødeskaug

Managing Associate (Solicitor of the Senior Courts of England and Wales)

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

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