Watson, Farley & Williams announce that it has advised a leading international bank on a US$10 million re-financing of a 5,150 bhp Marshall-Islands flagged AHTS. The re-financing was provided to an affiliated company of a Singapore listed company.

The transaction had to be specially structured to enable bareboat registration under Philippines flag.

The WFWAP team was led by Lee Chien Herr.

Mr Lee commented: “This transaction marks the first time which the parties have cooperated on the ship financing front and which is intended to lead the way for more to come.”