Jurisdiction - Singapore
Clyde & Co Advises On Joint Venture Between DOT Holdings AS And Pacific Radiance Limited.

22 October, 2014


International law firm Clyde & Co advised DOT Holdings AS on the establishment of a joint venture in Singapore with Pacific Radiance Limited. The joint venture company will be engaging in the business of owning and chartering offshore support vessels.


DOT Holdings AS is a strategic partnership joint venture company between Norwegian listed company Oceanteam Shipping AS (an offshore shipping company specialising in the business of owning, chartering and managing Deepwater Offshore Construction Service – and Pipe Lay Vessels and Fast Support Vessels) and Oil & Gas Services Maritime B.V. Pacific Radiance Limited on the other hand is a Singapore listed company which owns and operates over 130 high end offshore support vessels with world-wide operations.


The Clyde & Co team assisted in all aspects of the transaction, from reviewing the term sheet, conducting legal due diligence, drafting, reviewing and negotiating various transactional documentation, reviewing ancillary ship finance documentation and advising on tax incentive schemes from The Maritime and Port Authority of Singapore.


The Clyde & Co team was led by partner Ian Stewart, supported by senior associate Thomas Chooand associate Jen Wei Qi. Clyde & Co’s marine team was also involved in the transaction and comprised partner Chris Metcalf, counsel Conor Warde and senior associate Eileen Lam.


Ian Stewart notes “This successful joint venture reflects Singapore’s position as one of the world’s leading maritime hubs of choice and as a key gateway for international maritime firms to expand in Asia. Our corporate and marine teams complement this through providing a one-stop shop for our clients and supporting them in every stage of their maritime business operations.”


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