SHIP FINANCE AND COVID-19

Source: WFW Originally published on: 25/03/2020 As a result of the spread of COVID-19, the shipping industry is one of many contending with a global crisis. We have received numerous queries from concerned lenders and borrowers as to the potential effect of the crisis on their English law loan facilities and the following is intended to address at least some of these concerns.

However, each facility agreement is different and, as with any contract, the devil is in the detail, so a review of the relevant agreements is vital before any action should be taken. So far there has not been any UK government intervention which directly affects the issues touched upon in this briefing, but government policy is constantly evolving in response to the crisis so this might yet come. Full article here