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08 Jul 2024

Stephenson Harwood advises Ocean Yield AS on LNG shipping deal

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Law firm Stephenson Harwood has acted as co-counsel alongside Advokatfirmaet BAHR AS in advising Ocean Yield AS on its acquisition of infrastructure fund CVC DIF’s share in the French shipping company Geogas LNG.

Ocean Yield is a ship-owning company with investments in vessels on long-term charters. Geogas LNG holds a 34% interest in France LNG Shipping SAS (FLS). FLS is jointly owned by NYK and Geogas LNG, which has a large portfolio of vessels. These are employed on long-term charters to tier-one investment grade-rated European energy companies, with an average contract duration of 10 years, or 14 years including extension options.

"We were pleased to be able to harness our extensive shipping expertise to assist Ocean Yield on this transaction," said Alain Gautron, partner, Stephenson Harwood. "Our long-standing experience in the shipping industries worldwide allows us to tailor our advice to reflect the particular nuances of this matter."

The Stephenson Harwood team was led by Paris-based maritime, trade and offshore (MTO) partners Alain Gautron and Ezio Dal Maso, who were supported by tax partner Evelyne Bagdassarian and MTO managing associate Victor Lassus.

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