Nai, a Maltese subsidiary of Italy’s Navigazione Montanari group, which specialises in shipping products for the oil and petrochemical sectors, has purchased eight vessels from Vassholmen Shipping. Vassholmen is a subsidiary of Cyprus-based Sole Shipping, which focusses on sale and lease back projects on a bareboat charter basis.

The deal included the units “Valcadore”, “Valgardena”, “Valle Azzurra”, “Valle Bianca”, “Valrossa”, “Valsesia”, “Valtellina” and “Valverde”.

The vessels were acquired by Nai Int. Ltd. (NAI) as a result of the exercise of the call options provided under the relevant sale and leaseback transaction dated 18 December 2018. Watson Farley & Williams (WFW), international law firm, has advised NAI on the purchase of eight vessels from Vassholmen. The WFW Italy Maritime team that advised NAI was led by Partner Furio Samela, assisted by Associate Sergio Napolitano and Trainee Anna Palomba.

Vassholmen was represented by lawyers Olav Eriksen and Mats Aas Larsen of Nordisk Defence Club (Nordisk Skibsrederforening).