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class="post_banner clearfix" style="background-image: url(https://www.wfw.com/wp-content/uploads/2019/01/Dry-Bulk-shutterstock_719332072.jpg);" data-aos="fade-up"><div class="post_banner_info"><span class="header_tiny">Press</span><h1 class="h3_styler">WFW advises NAB on US$140.2m JOLCO financing<span>25 May 2021</span></h1></div></div> <div class="post_page_builder post_page_builder_press clearfix"> <div class="container clearfix"><div class="post_left post_left_content_only"><div class="clearfix"><div class="post_content post_wysiwyg post_content_blank"><h5>Watson Farley & Williams (“WFW”) has advised National Australia Bank Limited (“NAB”) as agent on behalf of the lenders on the US$140.2m Japanese Operating Lease with Call Option (“JOLCO”) in respect of two 325,000 dwt VLOC newbuild.</h5> <p>This ground-breaking transaction represents the first JOLCO involving a joint venture between ICBC Leasing and China Merchants Energy Shipping, with the vessels in question commissioned for a long-term contract of affreightment with Brazilian conglomerate Vale.</p> <p>The WFW Asia Assets & Structured Finance team that advised NAB was led by Singapore Partner Mehraab Nazir, supported by Counsel <a href="https://www.wfw.com/people/lizzie-roe/">Lizzie Roe</a>, Associate <a href="https://www.wfw.com/people/julia-sim/">Julia Sim</a> and Legal Manager <a href="https://www.wfw.com/people/arrow-zhang/">Arrow Zhang</a>. WFW New York Partners Daniel Rodgers and <a href="https://www.wfw.com/people/daniel-pilarski/">Daniel Pilarski</a>, assisted by Associate <a href="https://www.wfw.com/people/elina-kremen/">Elina Kremen</a>, provided Marshall Islands and Liberian law advice. Partner <a href="https://www.wfw.com/people/madeline-leong/">Madeline Leong</a>, Counsel <a href="https://www.wfw.com/people/valerie-lee/">Valerie Lee</a> and Associate Simon Lin led on the Hong Kong law aspects of the transaction.</p> <p>Mehraab commented: “This deal sets a precedent for JOLCOs in the shipping industry and highlights WFW’s unparalleled expertise in this space. We are delighted to have been involved in such a significant deal”.</p> <p>NAB Director of Asset Finance & Leasing Quincy Chan said: “It has been a pleasure to have worked with WFW on this noteworthy deal, particularly in such a challenging year as 2020. It demonstrates the full commitment of all the parties involved in times of crisis and the resilience of the shipping and ship finance industry through market cycles and global events”.</p> </div></div></div></div> </div> <br><div class="post_share_base"> <div class="pdf_download_post_flex_mobile"><p class="pdf_download_post"><a data-href="/pdf-builder.php?id=23177&type=post" target="_blank" rel="nofollow" class="button_outline pdf_builder_link">DOWNLOAD PDF <span></span></a></p><div class="post_banner_share"><span class="header_tiny">Share this Page</span><ul class="wfw_share"><li><a href="https://twitter.com/intent/tweet?text=https://www.wfw.com/press/wfw-advises-nab-on-us140-2m-jolco-financing/" title="Share on X (Twitter)" target="_blank"><img src="/wp-content/themes/wfw/images/x.svg" width="30" height="30" alt="X"></a></li><li><a href="https://www.linkedin.com/shareArticle?mini=true&url=https://www.wfw.com/press/wfw-advises-nab-on-us140-2m-jolco-financing/&title=WFW advises NAB on 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