The client, a leading company on the field of management of industrial waste needed to reach an agreement for the construction and sale of a tanker vessel to provide waste collection and transportation services in the harbor of Tangier. The ship owner selected a Turkish shipyard to carry out the construction of the vessel, being the construction process already in action. The client has needed advice on the construction contract, the vessel guarantees and further financial documents related to the transaction, governed both by English and Spanish law. Ontiers English and Spanish shipbuilding teams were the ones providing advice in the latter explained transactions.
After a hard negotiation process between the shipowner, the shipyard and their respective funders concluded in 2015 last trimester, a tanker vessel construction contract and those necessary guarantees were signed.
The project will significantly increase the clients’ turnover volume. Our team has worked all throughout the project with a high flexibility level, bearing in mind the culture differences and the applicable laws.