City law firm Trowers & Hamlins LLP has advised Waha Maritime, the maritime subsidiary of the diversified holding company Waha Capital, on the purchase and delivery of two Anchor Handling Tug (AHT) vessels.
Trowers & Hamlins says that the two vessels are designed to tow the anchors for oil rigs. The first, Waha I, is a 48 meter long vessel with two Caterpillar engines of up to 5,150 brake horsepower (BHP). The second, Waha II, is a 38 meter, twin screw powered vessel with a 5,000 BHP Niigata engine.
Roger Clarke, Partner, Trowers & Hamlins, comments: “Trowers & Hamlins has a long-standing association with Waha Capital and we’re delighted that we’ve assisted them with their diversification into shipping through Waha Maritime.”
“The transaction was governed by English law and was particularly interesting because of its international aspect – we worked with an Abu Dhabi-based buyer and Malaysian sellers in a deal that was completed in Singapore.”
Waha Capital is a leading Abu Dhabi-based and Abu Dhabi Securities Exchange (ADX)-listed, diversified, investments holding company. Its current business portfolio includes big-ticket leasing, financial services, maritime and property development. Waha Capital's main institutional shareholders are Mubadala Development Company and Abu Dhabi Investment Company.
The Trowers & Hamlins team was lead by partner Roger Clarke, who has advised Waha Capital for several years and worked with them on a significant number of acquisition, sales and leasing transactions.
