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Conyers advised Concordia Maritime in connection with the sale by Concordia Maritime of the Suezmax tanker “STENA SUPREME” to Violet Shipping SA, a Panamanian registered company, such that the vessel was deleted off of the Bermuda register and registered on the Panama register in the name of Violet Shipping SA. The vessel was then immediately leased back to Concordia Maritime on a bareboat charter basis for twelve years, with annual purchase options from year three onward, and re-registered on the Bermuda Demise Charter register. The transaction involved Conyers arranging for all of the Bermuda law aspects of the transaction, including the deletion and subsequent demise charter registration of the vessel.
Victor Richards of Conyers advised on this matter, working alongside Norton Rose Fulbright LLC.