The CSL Group Invests in Indonesian Flag

The CSL Group Inc. (“CSL”) of Montreal, Canada, a world-leading provider of marine dry bulk cargo handling and delivery services, has invested in the Indonesian flagged, floating offshore transshipment platform “FOTP Derawan”, constructed at the Yahua Shipyard in Nantong, China. The vessel will be operating offshore Kalimantan, Indonesia for PT Berau Coal.

This was a complex multi-jurisdictional transaction involving CSL’s international partners and its various subsidiaries. The Singapore office of Watson, Farley & Williams LLP advised on the overall transaction structure, the shareholders’ agreement governing relationships of the relevant entities, the loan and security agreements for the financing of the vessel and the various commercial agreements (including the construction contract and charter arrangements in relation to the vessel), which were necessary for the closing of the transaction. The transaction team consisted of Chris Lowe, Damian Adams and Ivan Chia.

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