AKD assists both incoming financiers and sellers with acquisition by ForestWave of Symphony fleet and in refinancing ForestWave’s existing fleet

February 10, 2023

AKD is proud to announce its contribution to the recent acquisition by the Netherlands-based ForestWave from the Netherlands/Singapore-based Symphony.

ForestWave acquired from Symphony Shipping a fleet of 8 Ecobox vessels of which one is currently under construction. With this transaction ForestWave now owns a fleet of 24 vessels.

AKD’s Finance & Structuring team assisted ABN AMRO, NIBC and Nesec Shipping Debt Fund in connection with the refinancing of 7 vessels in the existing fleet of ForestWave and the acquisition by ForestWave. For this deal, the team consisted of Renate Punt-Huizer and Romy Mattens with assistance by Hayat El Idrioui – El Hammouti and Daisy den Boer. Renate recently jointed AKD as partner and is highly experienced in Ship Financing.

Symphony’s sale of its fleet to ForestWave was handled by AKD’s Transport & Trade team, consisting of Lotte Schat and Charlotte Toorenman. The team specialises in assisting and advising parties on vessel and yacht transactions and disputes.

AKD congratulates all parties involved.