International law firm Ince has advised Japanese shipowner, Mitsui O.S.K. Lines (MOL), on the supply of a floating storage and regasification unit (FSRU) to the Hong Kong Offshore LNG terminal project.
The project involves a joint venture between Castle Peak Power Company Limited and The Hong Kong Electric, the law firm informed in its statement.
MOL will provide the vessel MOL FSRU Challenger, along with operations and maintenance services, to the project which will service the Black Point and Lamma Island Power Stations.
With a storage capacity of 263,000 cubic meters, the MOL FSRU Challenger is the largest FSRU in the world and the project will ensure reliable and stable fuel supply for Hong Kong.
Ince advised MOL on the negotiation of the FSRU time charter party and services agreement, Hong Kong regulatory issues and complex finance-related issues surrounding quiet enjoyment and step-in rights.
The Ince team which comprised of shipping, energy and finance lawyers was led by Devandran Karunakaran, Singapore office Managing Partner, with a team of lawyers from Singapore and Hong Kong.