Eimskip’s Financing And Delivery Of Dettifoss

Penningtons Manches Cooper advised Eimskip on the transaction.

Leading Icelandic transportation and logistics company Eimskip has taken delivery of Dettifoss, the first of two new 2,150 TEU container vessels built in China and now the largest vessel in the company’s fleet.

The Faroe Islands flagged vessel will now begin the voyage from China to Iceland, before formally entering into service in a few weeks’ time.

Partner Grant Eldred (Picture) and associate Ellis van der Vos assisted Eimskip in relation to the delivery of the vessel, built at Guangzhou Wenchong Shipyard in partnership with China Ship Trading Company, as well as the financing arrangements with German bank KfW IPEX-Bank Gmbh and ECA backed financing from Chinese insurer Sinosure.

Involved fees earner: Grant Eldred – Penningtons Manches LLP.; Ellis van der Vos – Penningtons Manches LLP.;

Law Firms: Penningtons Manches LLP.;

Clients: Eimskip;