WFW advises MSC Cruises on €353m ECA-backed financing of PortMiami mega cruise terminal
Construction is expected to be completed in December 2023 and, when finished, will be the largest cruise terminal in the US.
Cruise remains a growing segment in the maritime industry: newbuild orders are high and cruise companies enjoy good access to ECA finance and support. Our specialist team continues to handle some of the most important, high profile transactions in the industry.
In addition to finance, corporate, commercial, tax, employment, regulatory and dispute resolution expertise, our exceptional knowledge of the maritime world helps us add commercial value for our clients. We work across the board, from start-up companies entering the market, joint ventures exploring new opportunities, for large established cruise brands expanding their fleets as well as financiers and other key stakeholders.
Having advised on the majority of the cruise projects in the market, our team has recognised depth and strength and the ability to advise on bespoke commercial and operating agreements in this niche area.
Construction is expected to be completed in December 2023 and, when finished, will be the largest cruise terminal in the US.
As of 1 January 2020, shipowners and lessors may apply an exceptional tax depreciation when acquiring equipment using decarbonised energy for the main or auxiliary propulsion of a vessel.
In the second article of this series, Partner Mike Phillips and Associate Sylvie Allen discuss the courts’ powers under the Arbitration Act 1996 to preserve evidence, property and assets and order the attendance of witnesses in LMAA arbitrations.