Milan: International legal practice Norton Rose has advised Banca popolare dell'Emilia Romagna S.C., Mediocredito Italiano SpA and SACE SpA – Servizi Assicurativi del Commercio Estero on a financing to Italian shipping company Marigest S.r .l ., a subsidiary of Marnavi S.p.A. (Marnavi) for the purchase of a ship (currently called the “Hull 67”), under construction at the Turkish shipyard Selah Makine ve GEMICILIK Endüstri Tic A.S.

The Hull 67 is a platform supply vessel. Over the past few years, the demand for this type of vessel has been on the rise due to the increased number of deep-water offshore rigs. Since 2009 Domenico Ievoli, President of Marnavi, has commissioned 10 new vessels to expand the company’s offshore fleet, which will have 14 units by the end of 2013.

The Norton Rose team was led by partner and shipping finance specialist, Gennaro Mazzuoccolo, who was assisted by associate Mario Rondinella. Both Gennaro and Mario are based in Norton Rose’s Milan office.

http://www.nortonrose.com/news/77261/norton-rose-advises-banks-and-sace…