Mainport Shipping secures funding for hybrid survey and ROV support vessel “Geo Master”

RDJ advised the Eurazeo Sustainable Maritime Infrastructure (“ESMI”) fund on the Irish aspects of a sale and lease back transaction to be entered into with Mainport Shipping Limited (“Mainport”) for the pre- and post-delivery lease financing of the hybrid survey and ROV support vessel “Geo Master”. The vessel is a state-of-the-art low consumption vessel designed to support the growing European offshore wind market. It will be employed under a long-term contract with established subsea services specialist and vessel operator N-Sea.

ESMI focuses on investing in sustainable maritime infrastructure projects. It aims to support the development of environmentally friendly maritime technologies and infrastructure, contributing to the decarbonisation and modernisation of the maritime industry.

Mainport is an Irish marine services business focused on the offshore energy sector.

Headquartered in the Netherlands, N-Sea Group delivers integrated solutions for subsea infrastructure and assets.

The RDJ transaction team was led by partner Aisling O’Donovan (Banking and Finance).

Watson Farley & Williams and TRIP Advocaten Notarissen acted as ESMI fund’s UK and Dutch legal counsel respectively.